Price level (GDP price index, 2012 = 100) Potential ASI GDP AS2 Real GDP (trillions of 2012 dollars) The change reflected in the above figure might be a result of O a. a decrease in the money wage rate. O b. a rise in the price level. O c. an increase in the money wage rate. O d. a decrease in the real wage rate. O e. an increase in the real wage rate.

Price level (GDP price index, 2012 = 100) Potential ASI GDP AS2 Real GDP (trillions of 2012 dollars) The change reflected in the above figure might be a result of O a. a decrease in the money wage rate. O b. a rise in the price level. O c. an increase in the money wage rate. O d. a decrease in the real wage rate. O e. an increase in the real wage rate.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Which of the following is FALSE? Select one: a. The consumer price index gives economists a way of turning dollar figures into meaningful measures of purchasing power. O b. The consumer price index is used to measure the quantity of goods and services that the economy is producing. O c. The consumer price index is used to monitor changes in the cost of living over time. O d. The percentage change in the CPI is a measure of the inflation rate, but the percentage change in the GDP deflator is not a measure of the inflation rate. O e. The consumer price index is used by economists to measure the inflation rate.
The following table contains information for the U.S. for 1998. Thousands of U.S. Economy: 1998 Persons Civilian labor force 137,565 Civilian employment Civilian working-age population 131,293 205.015 Compute the unemployment rate and the labor force participation rate. O A. Unemployment rate = 9.54 percent; Labor force participation rate = 67.1 percent. O B. Unemployment rate = 4.56 percent; Labor force participation rate = 95.44 percent. O C. Unemployment rate = 3.06 percent; Labor force participation rate = 48.8 percent. O D. Unemployment rate = 4.56 percent; Labor force participation rate = 67.1 percent.
QUESTION 3 If nominal interest rate increased by 0.2 percentage points and inflation increased by 0.4 percentage points, then the real interest rate O A. increased by 0.2 percentage points O B. increased by 0.4 percentage points O C. decreased by 0.2 percentage points O D. decreased by 0.4 percentage points
Which of the following is not a key macroeconomic variable? O A. The unemployment rate. O B. The inflation rate. С. Gross Domestic Product (GDP). O D. Income distribution. Е. The population growth rate.
If the inflation rate is 3 percent and the nominal interest rate is 8 percent, how much is the after-tax real interest rate if the government imposes a 20 percent interest income tax? O a. 3.4 percent O b. 4 percent O c. None of the above O d. 5.4 percent.
59
None
Which of the following fall during a recession? O both retail sales and employment O retail sales but not employment O employment but not retail sales O neither employment nor retail sales
Please give a detailed response to the question below.
Suppose that nominal GDP per person is €18,000 in 2013, the 2005 GDP deflator is 100, and the 2013 GDP deflator is 110. The approximate real per person GDP in 2013 is O €16,364. O €19,800. O €18,000. O €16,634.
Table 5-2 Price of Magazines Quantity of Magazines 180 200 200 $2.00 $2.50 $3.50 Year Price of Burgers Quantity of Burgers 2017 $4.00 100 2018 $5.00 120 2019 $6.00 150 Refer to Table 5-2. Using the GDP deflator to measure the average level of prices and using 2017 as the base year, what is the economy's inflation rate? O a. 20 percent for 2018 and 30 percent for 2019 O b. 44.7 percent for 2018 and 45.5 percent for 2019 O c.25 percent for 2018 and 28 percent for 2019 O d. 20 percent for 2018 and 12.5 percent for 2019 6489a31#
The previous year had an unemployment rate of 14.1%, nominal GDP of $28.9 trillion, and real GDP of $26.1 trillion. If the unemployment rate changes to 18.6% and overall price levels remain constant, which choice below could be the current year nominal GDP? O $39.3 trillion O $39.2 trillion $39.1 trillion O $28.0 trillion