The following table reports transactions that occurred in Whoville. Nominal GDP in Whoville is ________
Item Price per Unit Quantity
Bottles of French Wine $20 10
Boxes of Cereal $4 20
Used Tires $15 5
Shares of Twitter Stock $10 15
Hours of Swimming Lessons $5 8
A) $320
B) $545
C) $120
D) $395
E) $195
C
Economics
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The law of demand illustrates a(n) ____ relationship between price and ____
a. direct; quantity demanded b. inverse; quantity demanded c. inverse; demand d. direct; demand
Economics
If the government increases its military spending, the aggregate demand curve shifts to the right
Indicate whether the statement is true or false
Economics