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Author Question: In a given year, U.S. nominal GDP was 527 billion and the GDP chain price index for that year is ... (Read 108 times)

imanialler

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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.


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trampas

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


imanialler

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Reply #2 on: Jun 30, 2018
Thank you :)


trampas

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Reply #3 on: Jun 30, 2018
Happy to help you


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