Answer to Question #123784 in Macroeconomics for JOHANNES MAVABAZA MOKOENA

Question

1. Real GDP is nominal GDP adjusted for: A) double counting. B) changes in prices. C) population. D) imports.

2. Every year more and more purchases are made with credit cards on the Internet. Given this trend, all else equal, we would expect: A) the money demand curve to shift outward. B) the money demand curve to shift inward. C) a downward movement along a fixed money demand curve. D) an upward movement along a fixed money demand curve.

3. Paul, who is 60 years old and has been a steelworker for 35 years, is unemployed because the steel plant in his town closed and moved to Cape Town. Sam is experiencing: A) cyclical unemployment. B) permanent unemployment. C) frictional unemployment. D) structural unemployment.

Answer 1

1.B

2.A

3.D