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Author Question: The GDP deflator provides a measure of which of the following? A) the ratio of GDP to the size of ... (Read 30 times)

mrsjacobs44

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on: Jun 30, 2018
The GDP deflator provides a measure of which of the following?
 
  A) the ratio of GDP to the size of the population
  B) the ratio of GDP to the number of workers employed
  C) the ratio of nominal GDP to real GDP
  D) the price of a typical consumer's basket of goods
  E) real GDP divided by the aggregate price level

Question 2

Explain why economists care about unemployment.
 
  What will be an ideal response?


yasmin

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

C

Answer to Question 2

First, they care about unemployment because of its direct effect on the welfare of the unemployed. Unemployment is often associated with financial and psychological suffering. Second, they care about unemployment because it provides a signal that the economy may not be using some of its resources efficiently.


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mrsjacobs44

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Reply #2 on: Jun 30, 2018
Thank you


yasmin

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Reply #3 on: Jun 30, 2018
No problemo


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