If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?
A) 270% B) 50% C) 5% D) 2.7%
D
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
People demand money for all of the following reasons EXCEPT
A) it generates a rate of return. B) it is a medium of exchange to make payments. C) it is a store of value. D) it can meet unplanned expenditures.
With the Bretton Woods system of international exchange rates
A) the value of a country's currency was determined strictly by the laws of supply and demand. B) the value of a country's currency was determined by its stock of gold. C) there were fixed exchange rates, and most countries were obligated to intervene to maintain the values of their currencies within 1 percent of par value. D) a nation's balance of payments was eliminated.
The share of industry output sold by the top four steel producers in the country are 19%, 15%, 12%, and 9% respectively. The four-firm concentration ratio for the steel industry is
a. 0.19. b. 0.55 c. 0.138 d. 0.65