Refer to the graph shown.
The diagram demonstrates that an increase in the price of soda will:
A. raise the quantity demanded of chocolate bars.
B. reduce the quantity demanded of soda.
C. raise the quantity demanded of soda.
D. raise the consumer's available income.
Answer: B
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Macroeconomics studies the following topics:
A) national output, the inflation rate, and the trade deficit. B) the price of Cisco stock and wage differences. C) differences in market structure. D) all of the above.
Which of the following is true of real GDP?
a. It measures a nation's output in terms of current year prices. b. It measures a nation's output in constant prices. c. It measures the degree of change in the general price level in an economy. d. It measures the change in the value of an economy's output. e. It measures the value of both intermediate and final goods and services produced in an economy.