intermediate macroeconomics econ 302 midterm 1 2002 part 1 i multiple choice questions choose the most appropriate answer amongst the four available choices only one of them is correct 20 ...
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...Intermediate macroeconomics econ midterm part i multiple choice questions choose the most appropriate answer amongst four available choices only one of them is correct x points suppose real gdp equals while nominal then implicit deflator equal to a b c d none above not perfect measure society s overall well being because it does take into account distribution income excludes variety non market goods assigns no value leisure time all and expressed as an index number any two on same indifference curve show different attainable combinations work consumption higher utility both increase have level must be by production function curves are totally unrelated another may ranked with point preferred lower indicate at each labor such that slope line between marginal product robinson crusoe becomes aware next period his will shift upward in current he raise supply decrease change way we cannot predict expressions measured terms or units commodities present dollar interest rate causes pure substi...