If in some year nominal GDP was $28 trillion and real GDP was $32 trillion, what was the GDP deflator?

Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in the market for cookies?

A) The equilibrium price and quantity rise. B) The equilibrium price rises, and the equilibrium quantity falls. C) The equilibrium price and quantity fall. D) The equilibrium price falls, and the equilibrium quantity rises.

Firms use two marketing tools to differentiate their products. What are these two tools?

A) market research and demand estimation B) brand management and advertising C) lobbying and word of mouth D) consumer surveys and market experiments