During this year, nominal GDP in Syldavia was $720 billion and real GDP was $720 billion. The GDP price index in Syldavia in this year was
A) 0, because nominal GDP equaled real GDP.
B) 100.
C) 720.
D) -1.
E) 720 billion.
B
Economics
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Explain the two relations that determine the evolution of output in the long run
What will be an ideal response?
Economics
If, for a given disposable income level, the disposable income line lies above the consumption curve, saving:
A. equals consumption. B. is greater than zero. C. is less than zero. D. is equal to zero.
Economics