Question: Compared to 1950, U.S. nominal GDP in 2015 was 88 times larger; 5 times larger O 55 times larger; 8 times larger O 5

Compared to 1950, U.S. nominal GDP in 2015 was 88 times larger; 5 times larger O 55 times larger; 8 times larger O 5 times larger; 88 times larger O 8 times larger, 55 times larger but real GDP in 2015 was

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The detailed answer for the above question is provided below The photo shows a multiplechoice questi... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Assume that Nancy accumulates savings of $ 1 million by the time she retires. If she invests this savings at 8 % , how much money will she be able to withdraw at the end of each year for 2 0 years ?

Calculate nominal GDP in 2012 and in 2015 and the percentage increase in nominal GDP from 2012 to 2015. The base year is 2012. Real GDP in 2012 was $15 trillion. The GDP price index in 2015 was 105,...

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-4. Ivan and Irene paid the following in 2012 (all by check or can otherwise be...

Consider the cash flows in Table P6.7 for the following investment projects (MARR = 15%). Determine the annual equivalent worth for each project at i = 15% and determine the acceptability of each...

(a) Contrast unipolar, bipolar, and multipolar neurons structurally. (b) Indicate where each is most likely to be found.

=+Optical Solutions Inc. Comparative Income Statement For the Years Ended December 31, 2010 and 2009 2010 2009 Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,608,000 $1,481,600...

4. Pupils often misbehave in order to make the teacher look bad.

The Effect of Transactions on the Accounting Equation For each of the following transactions, indicate whether it increases (I), decreases (D), or has no effect (NE) on the total dollar amount of...

7 Muffin's Masonry, Inc.'s, balance sheet lists net fixed assets as $32 million. The fixed assets could currently be sold for $55 million. Muffin's current balance sheet shows current liabilities of...

A firm that produces electric golf carts has just received an order for 200 carts, which must be ready for delivery at the start of week 8. Information concerning the product structure, lead times,...

Assume that your ending inventory is composed of 99 equivalent units of materials and 69 equivalent units of conversions costs and that you have determined your average cost per equivalent unit of...

Assume that the holding cost is $2, the ordering cost is $3.50, and the order quantity is 500. What is the demand, if the Total Cost is $640?

After successfully adopting new software in your department, you take your subordinates out to lunch to show your appreciation for their hard work. According to Lewin\'s model of change, what stage...

Despite the three strategies the middle class used when their wages went flat, the middle class eventully started to shrink. What are three reasons why? (the Vicious Cycle) Your reasons will be the...

Write 2-3 paragraphs (300 words) We have spent our time together exploring the nuts and bolts of the Human Resources processes and their value to our organizations and to health care leaders. As we...

Bongo has a long term contract (it can be regarded as indefinite) that they must fulfil to provide swimsuits for the local swimming team. The swimsuits are "one size fits all". The year can be split...

Determine the ending balance of each of the following T-accounts. Cash 300 500 220 Supplies 12,000 3,100 Wages Payable 900 250 260 5,800 900 Accounts Payable 4,000 6,500 Accounts Receivable 1,600...

Solve for the equilibria of the following discrete-time dynamical systems Pr pt+1 = Pr+2.0(I-Pr)

The table above shows the PPF of an island community. This communitys opportunity cost of producing 1 pound of fish ______. A. Is the increase in the quantity of berries gathered as the quantity of...

In July 2011, in the economy of Sandy Island, 10,000 people were employed and 1,000 were unemployed. During August 2016, 80 people lost their jobs and didnt look for new ones, 20 people quit their...

What can governments in Africa do to encourage economic growth and raise the standard of living in their countries?

The time to failure for a power supply unit used in a particular brand of personal computer (PC) is thought to be exponentially distributed with a mean of 4,000 hours as per the contract between the...

Dennis Cauchon and Julie Appleby reported in USA Today that the average patient cost per stay in American hospitals was $8,166. Assume that this cost is exponentially distributed. a. Determine the...

The useful life of an electrical component is exponentially distributed with a mean of 2,500 hours. a. What is the probability the circuit will last more than 3,000 hours? b. What is the probability...

Related Book

Foundations of Macroeconomics 8th edition by Robin Bade, Michael Parkin