Which of the following does not explain the relatively low price inflation compared to the higher wage inflation in the U.S. during the 1990s?
A) the appreciation of the dollar
B) a reduction in benefits paid to workers
C) an increase in the natural rate of unemployment
D) a reduction in the price of oil
C
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Which of the following statements best describes the study of economics?
A. Economics studies how the Federal Reserve handles fluctuation in business cycles. B. Economics studies how individuals and groups manage scarce resources. C. Economics studies how people maximize returns in the stock market. D. Economics studies how governments determine appropriate tax rates.
Social Security expenditures in the U.S. for 2006 made up approximately what percent of GDP?
a. 5 percent b. 12 percent c. 50 percent d. 75 percent e. 1 percent
Most economists and policy makers decided in 2007-2010 that reducing unemployment was the main national priority
a. True b. False Indicate whether the statement is true or false
If the cost of food & beverages increases by 10 percent, then, other things the same, the CPI is likely to increase by about
a. 1.5 percent. b. 7.5 percent. c. 10 percent. d. 20 percent.