Gross domestic product is calculated by summing up a) the total quantity of goods and services in the economy. b) the total quantity of goods and services produced in the economy during a period of time. c) the total market value of goods and services in the economy. d) the total market value of final goods and services produced in the economy during a period of time.

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided