ECON 201 Study Guide - Final Guide: Gdp Deflator, Herbert Hoover, Real Interest Rate
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ECON 201 Full Course Notes
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Identify the choice that best completes the statement or answers the question: consider a small economy in which consumers buy only two goods: apples and pears. ___: after the terrorist attacks on september 11, 2001, governments within the united states raised expenditures to increase security at airports. In 1931, president herbert hoover was paid a salary of ,000. Government statistics show a consumer price index of 15. 2 for 1931 and 214. 5 for 2009. President hoover"s 1931 salary was equivalent to a 2009 salary of about: ,507, ,058,388, ,140,000, ,525,000. ___: suppose that a decrease in the price of good x results in fewer units of good y being sold. In japan in 2000, nominal interest rates were 1. 5 percent and the inflation rate was -0. 5 percent. If a small country has current nominal gdp of billion and a gdp deflator of 50, what is its real gdp: billion, billion, billion, billion.