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Essay Question 2.a Refer to Table 4. Compute the values of this economy’s nominal GDP in years 1.

Justin borrows $1000 from Dexter.  Dexter wants to make a 5% real return (real interest rate) on his money, so they both agree on a 5% nominal interest rate paid next year. Both do not anticipate the 3% inflation next year. In this case,

The value of what Burger King produces in France is included in the U.S. ________ and in the French ________. 

By not counting the value of intermediate goods when calculating GDP, you avoid ________.

__________ defended the economic concept of “market clearing”. 

The reasons to study economics include which of the following?

Essay Question 1.a Refer to Table 3. What is personal consumption expenditures in billions of dollars?

The aggregate production function is Y = 2KL. There are 36 units of capital and 25 units of labor. What is the aggregate output? 

If your tuition is $2,000 this semester, your books cost $400, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes and you make $12 per hour, and your room and board is $4,000 this semester (same as if not attending college), then your opportunity cost of attending college this semester is

Refer to Figure 2. The demand for money curve will shift from to  if