Answer to: In the base year, real GDP nominal GDP. A. is greater than B. is less than C. is equal to D. could be greater than or less than By...
Calculating the rate of inflation or deflation. Suppose that in the year following the base year, the GDP deflator is equal to 110. Thepercentage changein the GDP deflator from the previous (base) year is obtained using the same formula used to calculate the growth rate of GDP. This percent...
The growth rate of real GDP per hour worked is equal to Group of answer choices (growth from labor productivity)+(growth from hours worked per person). (growth from total factor productivity)-(depreciation). (growth from convergence)+(balanced...
Disagree. Real GDP will be equal to nominal GDP if the price level increases and is equal to the baseyear's prices. D. Disagree. Nominal GDP is less than real GDP if the current price level is less than the base year price level. A...
Answer to: Real GDP is nominal GDP adjusted for changes in A. the price level. B. the inflation rate. C. population. D. the unemployment rate. By...
Thestructural surplus or deficitis the budget balance that would occur if the economy were at full employment and real GDP were equal to potentialGDP. Thecyclical surplus or deficitis the actual surplus or deficit minus the structural surplus or deficit.(主要看课本上Figure30.9) (2)在Discretionary...
nominal- of, relating to, or characteristic of an amount that is not adjusted for inflation; "the nominal GDP"; "nominal interest rates" 7.real- having substance or capable of being treated as fact; not imaginary; "the substantial world"; "a mere dream, neither substantial nor practical";...
nominal- of, relating to, or characteristic of an amount that is not adjusted for inflation; "the nominal GDP"; "nominal interest rates" 7.real- having substance or capable of being treated as fact; not imaginary; "the substantial world"; "a mere dream, neither substantial nor practical";...
In the short run, the equilibrium level of real GDP A. is necessarily less than potential GDP. B. is necessarily equal to potential GDP. C. is necessarily greater than potential GDP. D. could be less than, equal to, or greater than potential GDP....
This says GDP is equal to consumption+ savings(S) + taxes(T). Any dollar not spent on consumption or taxes is saved. Putting these together, we find (S-I) + (T-G) = NX. Now, the US has had a trade deficit for years. This means that NX is a negative number. So, either...