This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In a given year, U.S. nominal GDP was 527 billion and the GDP chain price index for that year is ... (Read 185 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
on: Jun 30, 2018
In a given year, U.S. nominal GDP was 527 billion and the GDP chain price index for that year is 23.3 . Real GDP in 1996 dollars is:
 a. 1,228 billion.
  b. 2,262 billion.
  c. 3,000 billion.
  d. 3,262 billion.

Question 2

Suppose an increase in government spending stimulates real GDP without affecting the price level. What is the relevant range of the aggregate supply curve in this case?
 a. The classical range.
  b. The intermediate range.
  c. The Keynesian range.
  d. The monetarist range.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

trampas

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


imanialler

  • Hero Member
  • *****
  • Posts: 539
Reply #2 on: Jun 30, 2018
Thank you :)


trampas

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Water chain in cytochrome f Water chain in cytochrome f
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Comparing a Food Chain and a Food Web Comparing a Food Chain and a Food Web
Basic Chart of Food Chain Basic Chart of Food Chain
Computer-automated DNA sequencing using the chain-termination (Sanger) method Computer-automated DNA sequencing using the chain-termination (Sanger) method
Video: First Stage of Labor and Delivery Video

For a complete list of videos, visit our video library