Changes in GDP in the Medium Run Are Determined Primarily

question 9

Multiple Choice

Changes in GDP in the medium run are determined primarily by

• A)demand factors.
• B)supply factors.
• C)monetary policy.
• D)all of the above

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Definitions:

Opportunity Cost

The worth of the best alternative that is given up in order to make a choice.

Imports

Products or services imported from other countries for sale or consumption.

Purchasing Power

The value of currency expressed in terms of the amount of goods or services that one unit of money can buy.

Imported Goods

Products or services brought into a country from abroad for sale.