Econometric computer models have led to better predictability of economic events

A year over year ________ in the buying power of money means that definitely ________ from one year to the next

A) decrease; the price level increased B) increase; inflation increased C) decrease; inflation increased D) increase; the price level increased E) Both answers A and C are correct.

Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals

A) $2,200. B) $1,600. C) $1,400. D) $1,200.