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Author Question: If you have 5000 and the GDP deflator decreases from 100 to 80 A) the 5000 will buy 20 percent ... (Read 150 times)

Charlie

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on: Jun 30, 2018
If you have 5000 and the GDP deflator decreases from 100 to 80
 
  A) the 5000 will buy 20 percent more of the goods and services produced by society.
  B) the value of the 5000 remains constant.
  C) the 5000 will buy 20 percent less of the goods and services produced by society.
  D) the value of the 5000 decreases.

Question 2

Which one of the following statements is NOT true?
 
  A) The classical model assumes that people suffer from money illusion.
  B) The classical model assumes that no single seller of a commodity can affect its price.
  C) The classical model assumes that pure competition exists.
  D) The classical model assumes that people are motivated by self-interest.


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smrtceo

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

A

Answer to Question 2

A


Charlie

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


smrtceo

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


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