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Author Question: If for a given year nominal GDP is 2000 billion and real GDP is 1500 billion, then the GDP price ... (Read 200 times)

formula1

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on: Jun 29, 2018
If for a given year nominal GDP is 2000 billion and real GDP is 1500 billion, then the GDP price index is
 
  A) 100. B) 1.33. C) 750. D) 0.75. E) 133.

Question 2

A minimum wage rate that is set ________ the equilibrium real wage rate creates a ________ of labor.
 
  A) below; surplus
  B) below; shortage
  C) above; surplus
  D) above; shortage
  E) equal to; shortage


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Ptupou85

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

C


formula1

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Reply #2 on: Jun 29, 2018
Thank you :)


Ptupou85

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Reply #3 on: Jun 29, 2018
Happy to help you


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