ECON1132 Study Guide - Midterm Guide: Demand Curve, Autarky, Business Cycle

• School: Boston College
• Department: Economics
• Course: ECON1132
• Professor: Andrew Petersen

Document Summary

For each of the following questions, encircle the answer you believe to be correct or most nearly correct. If you change your mind, cross one out and encircle another. Of the following situations, the one most likely to be dealt with in macroeconomics as opposed to. The purchase price of a final good or service is equal to: If nominal gdp were rising at about 2% per year and the gdp deflator were rising at 3% per year, we could say that real gdp was: A. rising at about 2% per year: falling at about 3% per year, falling at about 1% per year, rising at about 5% per year. rising at about 1% per year. If real gdp increases by 5. 0% and the gdp deflator rises by 2. 0%, then nominal gdp will: 6: rise by 5. 0%, rise by 6. 9%, rise by 3. 0%, rise by 7. 1%. fall by 3. 0%.