From 2013 to 2014, the CPI for medical care increased from 150 to 159 . What was the inflation rate for medical care?
a. 5.7 percent
b. 6.0 percent
c. 9.0 percent
d. 59.0 percent
b
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Wartime economic mobilization resulted in:
a. increased hours for workers. b. dramatic increases in the industrial accident rate. c. some reduction in the quality of output. d. Increased production rates. e. All of the above.
The expected effects of an increased budget deficit are
A. higher real interest rates. B. exchange rate depreciation. C. lower inflation. D. All of these responses are correct.
When a recessionary gap occurs
a. real output exceeds the natural level of output, and unemployment exceeds its natural rate b. real output exceeds the natural level, and unemployment is less than its natural rate c. real output is less than the natural level of output, and unemployment exceeds it natural rate d. real output is less than the natural level of output, and unemployment is less than its natural rate
A 2013 article in the Financial Times predicted that the post-2008 Eurozone debt crisis:
A) is over and the benefits from the ordeal are valuable lessons about fiscal responsibility. B) is capable of solution but far from over. The article blames the private financial sector and denies that fiscal irresponsibility is the sole cause. C) is a bellwether of the decline and eventual collapse of the euro. D) teaches us that fiscal restraint is much more important than economic performance or unemployment issues.