Suppose that in 2012, real GDP is larger than nominal GDP. The GDP price index in 2012 is definitely
A) less than 100.
B) larger than the GDP price index in 2012.
C) greater than 100.
D) negative.
E) less than the GDP price index in 2012.
A
Economics
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In a competitive market with no externalities,
A) the consumer surplus is equal to zero because of competition. B) buyers cannot control the price, so the consumer surplus is zero. C) at the equilibrium price, marginal benefit exceeds marginal cost. D) at the equilibrium price, marginal benefit equals marginal cost. E) at the equilibrium price, the total amount of consumer surplus equals the total amount of producer surplus.
Economics
Calculate the multiplier and the change in real GDP
What will be an ideal response?
Economics