Suppose that along the aggregate demand curve, real GDP equals $14.2 trillion when the GDP deflator is 90. If the GDP deflator were 95, real GDP along the aggregate demand curve would equal
A) more than $14.2 trillion but less than $14.8 trillion.
B) less than $14.2 trillion.
C) $14.2 trillion.
D) more than $14.8 trillion.
B
Economics
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The demand for markers is _______________________ than is the demand for Sharpies because ____________________.
A. less price elastic; markers require a smaller portion of one's income B. more price elastic; markers require a smaller portion of one's income C. less price elastic; the scope of the market for markers is more broadly defined D. more price elastic; the scope of the market is for markers is more broadly defined
Economics
Which of the following is the best measure of an increase in actual output?
A. Nominal GDP. B. Real GDP. C. Per capita GDP. D. GDP per dollar.
Economics