The GDP deflator of an economy is calculated by:
a. dividing nominal GDP by real GDP and multiplying by 100.
b. dividing real GDP by nominal GDP and multiplying by 100.
c. dividing nominal GDP by real GDP and multiplying by 1,000.
d. dividing real GDP by nominal GDP and multiplying by 1,000.
a
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In this year, Country A has a real GDP per person that is 4 times greater than that of Country B. Country B's growth rate of real GDP per person is 3.5 percent per year
How many years will it take for Country B's real GDP per person to reach the same level that Country A had in this year? A) 10 years B) 20 years C) 40 years D) 60 years E) 56 years
The Coase Theorem states that externalities can always be eliminated by the market as long as property rights exist, the number of parties involved is small, and transactions costs are low
Indicate whether the statement is true or false