Real GDP is nominal GDP
a. plus depreciation
b. adjusted for changes in the price level
c. minus depreciation
d. minus taxes
e. minus inflation
B
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If the demand and supply curves for a commodity both shift to the left by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher price quantity. B) the same price and a higher quantity. C) the same price and a lower quantity. D) a lower price and a higher quantity.
In the financial crisis in 2008, the Federal government created the ________, to purchase financial assets that were thought to be temporarily undervalued, preventing further financial panic
A) Federal Home Loan Board. B) Troubled Asset Relief Program. C) Federal Deposit Insurance Corporation. D) Bank Insurance Fund.