Author Question: In contrast with nominal GDP, real GDP refers to nominal GDP: a. minus exports. b. minus personal ... (Read 81 times)

lindiwe · **on:** Jun 30, 2018

In contrast with nominal GDP, real GDP refers to nominal GDP:
a. minus exports.
b. minus personal income taxes.
c. corrected for price changes.
d. corrected for depreciation.

Question 2

Which of the following correctly describes the aggregate supply curve?
a. A curve that shows the level of real GDP demanded at different possible price levels.
b. A curve that shows the level of real GDP produced at different possible price levels.
c. A curve that shows the level of quantity supplied by firms in a market at different possible prices, such as the supply of oranges in the oranges market.
d. None of the above.