Real GDP measures the value of goods and services produced in a given year valued using
A) base year prices.
B) prices that prevail the same year.
C) no prices.
D) future prices.
E) real rather than nominal prices.
A
Economics
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Figure 34-9
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In Figure 34-9, Pestoland at price OA
A. is importing MN pasta from Pastaland. B. is exporting MN pasta to Pastaland. C. is exporting XY pasta to Pastaland. D. is exporting OZ pasta to Pastaland.
Economics
Which of the following is an example of the bequest motive for saving?
A. Pat puts $400 per month in his 401(k) retirement account. B. Gerry and Terry put $2,000,000 in a trust fund that will go to their children when they die. C. Jordan sets aside $200 per month in case she has to pay for a new roof for her house. D. Chris keeps $15,000 in a money market account to pay expenses in case he loses his job.
Economics