Author Question: When economists speak of changes in GDP measured in constant dollars, they mean that: a. money GDP ... (Read 39 times)

Haya94 · **on:** Jun 30, 2018

When economists speak of changes in GDP measured in constant dollars, they mean that:
a. money GDP is constant.
b. the price level is constant.
c. a price index has been used to adjust money GDP for the effects of inflation.
d. the growth rate of money GDP has been adjusted for changes in population.

Question 2

The aggregate supply curve indicates the:
a. relationship between prices and the aggregate quantity of goods and services purchased by consumers, investors, governments, and foreigners (net exports).
b. relationship between prices and the natural rate of unemployment.
c. relationship between the real wage rate and the quantity of labor supplied by households.
d. quantity of goods and services producers will supply at different price levels.