[Answered] If for a given year nominal GDP is 2000 billion and real GDP is 1500 billion, then the GDP price ...

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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 201 times)

formula1

Hero Member
Posts: 666

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

Sr. Member
Posts: 334

Reply #1 on: Jun 29, 2018

Answer to Question 1

E

Answer to Question 2

C

formula1

Hero Member
Posts: 666

Reply #2 on: Jun 29, 2018

Thank you

Ptupou85

Sr. Member
Posts: 334

Reply #3 on: Jun 29, 2018

Happy to help you

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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 201 times)

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