The table above has information about an economy. Using this information, GDP equals
A) $6,500 billion.
B) $7,800 billion.
C) $7,000 billion.
D) $8,500 billion.
E) some amount that cannot be calculated without information on the amount of government expenditures.
B
Economics
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If the inflation rate was 1% in 2014, 3% in 2015, and 2% in 2016, this economy experienced ____ from 2014 to 2015, and ____ from 2015 to 2016.
a) inflation; inflation b) disinflation; deflation c) inflation; deflation d) inflation; disinflation
Economics
Refer to Table 2-16. Does either Estonia or Finland have an absolute advantage and if so, in what product?
A) Estonia has an absolute advantage in lumber. B) Finland has an absolute advantage in lumber. C) Estonia has an absolute advantage in cell phones. D) Finland has an absolute advantage in both products.
Economics