The U.S. government debt is owed to those who have purchased the bonds sold by the government.

Suppose the price of a steak dinner was $20 in 2003. If the CPI was 200 in 2003 and 10 in 1903, what would the same steak dinner have cost in 1903?

Suppose that a corporation decides to issue some more stock. Which of the following would be the result?

Consider an economy that produces only two goods: mandolins and fiddles. In 2010, 50 mandolins and 25 fiddles were produced. In 2011, 100 mandolins and 50 fiddles were produced. In 2012, 150 mandolins and 75 fiddles were produced. The price of a mandolin was $300 in 2010, $400 in 2011, and $600 in 2012. The price of a fiddle was $200 in 2010, $250 in 2011, and $300 in 2012.  Real GDP for 2012 (using 2011 as the base year) is

Suppose a person from Missouri purchases a car made in Italy. Which of the following is correct?

In the video, we discussed how to calculate GDP. I used the circular flow diagram (shows firms and households) to illustrate that it can be calculated

GDP is designed to be an estimate of the total income of everyone in an economy.

Which of the following is not a component of GDP?

When new products are introduced, consumers have more variety from which to choose. This greater choice makes each dollar

Here is the 10 question quiz over Chapter 3. You will have 30 minutes to complete the quiz. I would encourage you to create notes from your reading of the chapter. You may use your notes during the exam, but not your textbook. You can take the quiz up to three times. Your scores will be averaged.For example:Attempt 1: 4 pts.Attempt 2: 7 pts.Attempt 3: 9 pts.Final Score: 6.6 pts.