Consider the data below (in billions of dollars) for an economy. Gross domestic product for this economy equals:Consumption expenditures$950Investment expenditures$325Government purchases$300Government transfer payments$420Exports$100Imports$150

The GDP deflator in year 2 is 106 using year 1 as a base year. This means that, on average, the price of goods and services is

If a person’s nominal income increases by 5% while the price level increases by 2%, then that person’s real income:

If the consumer price index moves from 104 to 115, the rate of inflation during this period is:

What does the Efficiency Wage Theory propose regarding the relationship between wages and worker productivity?

If the cost of the CPI market basket at current period prices is $280 and the cost of the CPI market basket at base period prices is $315, the CPI is

Gross Domestic Product equals $1.5 trillion. If consumption equals $850 billion, investment equals $420 billion, and government spending equals $380 billion, then:

The Scenario Manager allows you to save and switch between different sets of values in a worksheet.

The Subtotal function can only be used in data that is formatted as a table.

The RATE function is used to calculate the interest rate required to reach a specific future value.