Inflation is measured by examining the percent increase in the ________ from one year to the next.
A. CPI
B. price of gas
C. GDP growth
D. nominal GDP
A. CPI
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In the above figure, the equilibrium interest rate is ________ and the equilibrium quantity of money is ________ trillion
A) 4 percent; $1.2 B) 8 percent; $1.2 C) 4 percent; $0.6 D) 8 percent; $0.6 E) 0 percent; $1.2
The primary monetary policy tool is reserve requirements
Indicate whether the statement is true or false
Air pollution is more dangerous to the public, but toxic waste generates more public uproar. Why?
a. Those exposed to the health hazard posed by the toxic waste site are usually less sure that exposure has occurred. b. Those exposed to the health hazard posed by the toxic waste site are usually more sure that exposure has occurred. c. Fewer people cause air pollution than toxic waste. d. Fewer people are affected by air pollution than by toxic waste. e. Toxic waste causes more illness and death than air pollution does.
In the short run when output is zero, total cost is:
a. equal to total variable cost. b. greater than total fixed cost. c. equal to total fixed cost. d. less than total fixed cost. e. less than total variable cost.