Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with these questions, U.S. Economy 2014 2015 2016 Nominal GDP $50,000 $57,500 $72,000 Real GDP $50,000 $50,000 $60,000 2) Did the economy

I need help with these questions,

image text in transcribedimage text in transcribedimage text in transcribed
U.S. Economy 2014 2015 2016 Nominal GDP $50,000 $57,500 $72,000 Real GDP $50,000 $50,000 $60,000 2) Did the economy grow from 2014 to 2015? O a Yes, because nominal GDP increased 7,500 Ob No, because real GDP has not changed C No, because $57,500 isn't that must bigger than $50,000 O d Yes, because real GDP stayed the sameQuestion 2 (1 point) Read each of the following headlines and select the proper letter of the business cycle: E = Expansionary P = Peak C = Contractionary T = Trough Headline 2 The price of goods has increased 5% over the last two months. O a E O b C O P O d TQuestion 3 (1 point) Which of the following is NOT one of the three things that can shift the long-run aggregate supply curve to the right? trade labor costs large scale increases in technology/productivity QHU'D) large scale increases in resources

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commerce And Coalitions How Trade Affects Domestic Political Alignments

Authors: Ronald Rogowski

1st Edition

0691219435, 9780691219431

More Books

Students also viewed these Economics questions

Question

1. What does this mean for me?

Answered: 1 week ago