Consider a country with a nominal gross domestic product (GDP) of $5 billion in 2010 and $15 billion in 2015. In the same period the population grew by 10 percent and price levels increased by 90 percent. What is the economic growth for this country?
190 percent
100 percent
200 percent
90 percent
110 percent
The drop in the buying power of an ounce of gold in sixteenth-century Europe was due to
laws banning the use of gold in commercial transactions.
hoarding of gold by the French government.
a decline in the purity of the gold being circulated.
silver becoming more popular than gold as a medium of exchange.
gold being imported from the New World.
Professor Zebrowski's business class has 25 students. Six students in the class have part-time jobs and go to school full-time. Two students in the class have full-time jobs and go to school part-time. Three students in the class are looking for part-time jobs. How many students in the class count as part of the labor force?
25
8
11
9
14
In which direction does a surge of inflation redistribute wealth?
from workers to managers
from consumers to producers
from lenders to borrowers
from private corporations to the government
from the rich to the poor
The difference between nominal gross domestic product (GDP) and real GDP is
long-run trend GDP.
the price level.
nominal output growth.
real output growth.
average output growth.