Economic growth is measured as:
a. the quarterly percentage change in nominal GDP.
b. total output per year divided by the inflation rate.
c. total nominal GDP at the end of each year.
d. the percentage change in population growth per year.
e. the annual percentage change in real GDP.
e
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A balance of payments crisis is best described as
A) a sharp change in interest rates sparked by a change in expectations about the level of imports. B) a sharp change in foreign reserves sparked by a change in expectations about the future exchange rate. C) a sharp change in interest rates sparked by a change in expectations about the level of exports. D) a sharp change in foreign reserves sparked by a change in expectations about the level of imports. E) a sharp change in foreign reserves sparked by a change in expectations about domestic production.
If the government increases the amount of unemployment insurance that unemployed workers can collect, the amount of frictional unemployment would be expected to:
A. fall. B. remain constant. C. rise. D. first rise and then fall.
_________ inflation can be explained by a ________ shift in the aggregate _________ curve.
A. Demand-pull, leftward, demand B. Cost-push, rightward, supply C. Demand-pull, leftward, supply D. Cost-push, leftward, supply
You decide to work in Japan for the next 10 years, accumulate some savings, then move back to the United States and convert your savings from yen to dollars
At the time of your move, economists predict that consumers in the United States have reignited their love of Japanese products, especially hybrid cars, and expect that this strong preference for Japanese products will continue for the next decade. How should this influence your decision to work and save in Japan? A) You should be discouraged as the growing U.S. preference for Japanese goods should increase the value of the yen to the dollar and decrease the value of your savings when converted to dollars. B) You should be encouraged as the growing U.S. preference for Japanese goods should increase the value of the yen to the dollar and raise the value of your savings when converted to dollars. C) You should be discouraged as the growing U.S. preference for Japanese goods should decrease the value of the yen to the dollar and decrease the value of your savings when converted to dollars. D) You should be encouraged as the growing U.S. preference for Japanese goods should decrease the value of the yen to the dollar and raise the value of your savings when converted to dollars.