Nominal GDP ______. has not been adjusted for changes in prices over time has be

Question

Nominal GDP ______.
       has not been adjusted for changes in prices over time
       has been adjusted for changes in prices over time
       is a small or nominal amount of output
       excludes the international sector

The major difference between the Consumer Price Index and the Producer Price Index is that ______.
       the PPI is based on retail prices and CPI is based on wholesale prices
       the PPI measures the cost of living of self-employed workers and the CPI measures the cost of living of salaried workers
       the PPI generally registers a higher rate of inflation than the CPI
       the PPI is based on the cost of a basket typically purchased by producers, while the CPI is based on the cost of a basket typically purchased by consumers

According to Thomas Malthus's work, which of the following is true concerning his pessimistic prediction of future productivity? (Points: 3)
       As population grew so would output per worker.
       The amount of capital per worker would fall.
       Technology could be counted on to increase output per worker.
       The amount of land per worker would eventually decline.


Sources of funds for investment spending are ______.
       savings by households, government, and foreigners
       taxes and transfer payments
       always equal to U.S. spending on imports
       directed to their most productive uses by the U.S. government

A difference between a closed and an open economy is that ______.
       in the latter, foreign savings complement domestic savings in financing investment spending
       in the latter, the government is more open to the idea of financing investment spending than in the former
       in the former, foreign savings complement domestic savings in financing investment spending
       in the former, foreign savings finance more investment spending than in the latter


The savings-investment spending identity says that savings and investment spending are ______.
       always equal because private savings match government savings
       equal as long as there is no trade surplus or deficit
       always equal for the economy as a whole
       equal as long as there is not government budget deficit or surplus

A business will want to borrow to undertake an investment project when the rate of return on that project is _______.
       less than the interest rate
       greater than the interest rate
       greater than the exchange rate
       equal to the inflation rate

The loanable funds market maximizes ______.
       the interest rate to savers
       the rate of return by borrowers
       the gains from trade between lenders and borrowers
       the amount of investment spending in the economy

Which of the following assets would be considered to be the least liquid?
       cash
       checking account balance
       corporate bond
       stock in a privately held company

Which of the following would cause a change in the short-run aggregate supply curve?
       the quantity of real output supplied
       the price level

Explanation / Answer

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