One of the reasons macroeconomists have concerns about inflation is that inflation causes
A) real GDP to rise.
B) nominal GDP to fall.
C) wages to rise as fast as prices.
D) real GDP to exceed nominal GDP.
E) none of the above
E
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Which one of the following is part of our money supply?
A. Gold B. A credit card C. NOW accounts D. A personal check
If a one percent increase in the price of oranges leads to a five percent increase in the quantity supplied, the price elasticity of supply for oranges is ________.
A. 1/2 B. 5 C. 1/5 D. 2
The marginal utilities associated with the first 4 units of consumption of good Y are 10, 12, 9, and 7, respectively. What is the total utility associated with the third unit?
A. 3. B. 9. C. 25. D. 31.
The Fed's actions influence real GDP by changing expenditure plans. Other things remaining the same the lower the real interest rate, the ________ is the amount of consumption expenditure and the _______ is the amount of saving.
Fill in the blank(s) with the appropriate word(s).