A: nominal and real GDP would fall by 7 percent.
B: nominal GDP would fall by 7 percent; real GDP would be unchanged.
C: nominal GDP would be unchanged; real GDP would fall by 7 percent.
D: neither nominal GDP nor real GDP would change.
举一反三
- Real and nominal variables are highly intertwined, and changes in the money supply change real GDP in the short run.
- Suppose an economy produces only cheese and fish. In 2008, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2007, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2008, ( )? nominal GDP is $800, real GDP is $500, and the GDP deflator is 160.|nominal GDP is $500, real GDP is $800, and the GDP deflator is 160.|nominal GDP is $500, real GDP is $800, and the GDP deflator is 62.5.|nominal GDP is $800, real GDP is $500, and the GDP deflator is 62.5.
- When economists talk about growth in the economy, they measure that growth as the A: absolute change in nominal GDP from one period to another. B: percentage change in nominal GDP from one period to another. C: absolute change in real GDP from one period to another. D: percentage change in real GDP from one period to another.
- If a country had deflation, A: the nominal interest rate would be greater than the real interest rate. B: the real interest rate would be greater than the nominal interest rate. C: the real interest rate would equal the nominal interest rate. D: None of the above is necessarily correct.
- If money is neutral, then changes in the quantity of money A: do not affect real output. B: affect both nominal and real output. C: do not affect nominal output. D: affect neither nominal nor real output.
内容
- 0
If the inflation rate is zero, then A: both the nominal interest rate and the real interest rate can fall below zero. B: the nominal interest rate can fall below zero, but the real interest rate cannot fall below zero. C: the real interest rate can fall below zero, but the nominal interest rate cannot fall below zero. D: neither the nominal interest rate nor the real interest rate can fall below zero.
- 1
If a country’s saving rate declined, then other things the<br/>same, in the long run it would have () A: lower<br/>productivity, but not lower real GDP per person. B: lower<br/>productivity and lower real GDP per person. C: lower<br/>real GDP per person, but not lower productivity D: neither<br/>lower productivity nor lower real GDP per person.
- 2
A fall in the price level shifts the aggregate expenditure curve upward and increases the quantity of real GDP demanded.
- 3
If the nominal interest rate per year is 10 percent and the inflation rate is 4 percent, what is the real rate of interest? A: 10.0 percent B: 4.1 percent C: 5.8 percent D: 14.0 percent
- 4
The bad money in the law of bad money expelling good money refers to ( ). A: A money whose nominal value is higher than its real value B: A money whose nominal value is lower than their real value C: Money with no nominal value D: Money with no real value