Refer to the given information. Nominal GDP is:
Answer the question on the basis of the following information for a hypothetical economy. All
values are in nominal terms.
M = $100
V = 2
C a = $160
X n = $10
G = $10
A. $100.
B. $200.
C. $180.
D. $50.
B. $200.
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The size of a family or household does not affect the data used to measure income inequality
a. True b. False Indicate whether the statement is true or false
What happens to the equilibrium price and quantity in the market for science fiction novels, a normal good, when income increases and a new technology is invented, making it easier to publish books.
a. Quantity and price both increase. b. Quantity and price both decrease. c. Quantity will increase and the price change is ambiguous. d. Price will decrease but the quantity change is ambiguous.