Nominal GDP is
a. also called real GDP.
b. a more accurate measure than real GDP.
c. real GDP adjusted for changes in the price level.
d. GDP measured in current prices.
d
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Which of the following is true?
A) If an exchange rate is allowed to vary across a fixed basket of currencies, it is called a hard peg. B) If an exchange rate is not allowed to vary against the target currency, it is called a soft peg. C) If an exchange is only allowed to fluctuate within a set band, it is considered to be a flexible exchange rate system. D) A soft peg is when a currency's exchange rate is only allowed to fluctuate within a set band.
The major similarity between a monopolist and a monopolistically competitive firm is that:
a. both are price takers. b. both face a horizontal demand curve. c. both are the sole producers of a particular good. d. both face a negatively sloped demand curve. e. both are affected by the decision of their rivals.