Nominal GDP is measured by calculating real GDP at constant prices

If the government removes a binding price floor from a market, then the price paid by buyers will

a. increase, and the quantity exchanged will increase. b. increase, and the quantity exchanged will decrease. c. decrease, and the quantity exchanged will increase. d. decrease, and the quantity exchanged will decrease.

The marginal product of labor is calculated assuming other factor inputs

A) increase more than proportionately. B) increase less than proportionately. C) remain constant. D) decrease.