Author Question: The GDP price index equals i. nominal GDP divided by real GDP multiplied by 100. ii. a measure ... (Read 46 times)

saliriagwu · **on:** Jun 29, 2018

The GDP price index equals

i. nominal GDP divided by real GDP multiplied by 100.
ii. a measure of the price level.
iii. an average of current prices expressed as a percentage of base-year prices.
A) i, ii, and iii B) iii only C) ii and iii D) i only E) i and ii

Question 2

The table above shows a nation's production possibilities frontier. If the nation wants to produce 4 robots and 34 pizzas,

A) the nation will be producing inefficiently.
B) the opportunity cost is 9 pizzas.
C) it will shift the production possibilities frontier.
D) it will be unable to do so because the production point is unattainable.
E) the nation will then be producing at a production efficient point.