An important determinant of a country's standard of living is the amount of __________ it typically experiences
Fill in the blank(s) with correct word
unemployment
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"Good news" about an expenditure-related indicator means that
A) it is higher than its previous value. B) it is higher than it was expected to be. C) it is lower than its previous value. D) it rose faster than the rate of inflation.
Which of the following is an example of a speculative attack on a currency?
a. National governments decide to engage in competitive devaluations against a given country. b. International organizations such as the WTO and the IMF attempt to reorder the currency's system. c. Private investors sell domestic currency and buy foreign currency, betting that the domestic currency will soon be devaluated. d. Casinos in Las Vegas allow the proliferation of bets for and against a given currency. e. A country is at war, and the enemy country "freezes" all the accounts denominated in the local currency.
A sudden lack of goods:
a. supply shock b. shortage c. excess supply d. disequilibrium e. search costs
When the consumer spends a small portion of his income on a good, demand will be
A. elastic. B. unit-elastic. C. inelastic. D. elastic, unit-elastic or inelastic depending upon supply.