Which of the following is a valid characteristic of the U.S. economy over the last sixty years?
A) Investment is smoother than most of the other components of GDP, especially consumption.
B) Government spending has remained around 20% of GDP over much of the postwar period.
C) The U.S. has, for the most part, been running a trade surplus which has trended upward to over 5% of GDP.
D) all of the above
E) none of the above
B
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Hyperinflation is defined as
A) declining inflation rates. B) rising but low inflation rates. C) very high inflation rates. D) very low inflation rates.
If you put $500 into a checking account, the immediate effect (do not consider the money multiplier which we will study in the next chapter) is:
a. M1 rises, M2 falls, and the monetary base remains the same. b. M1 falls, M2 falls, and the monetary base remains the same. c. M1 rises, M2 rises, and the monetary base remains the same. d. M1, M2, and the monetary base rise. e. M1, M2, and the monetary base remain the same.
The three types of unemployment are
What will be an ideal response?
The price of product X is $3, the price of product Y is $2, and you have $18 to spend. What combination of product X and product Y will give you the most satisfaction?
A. 2 units of product X and 5 units of product Y B. 4 units of product X and 3 units of product Y C. 3 units of product X and 5 units of product Y D. 5 units of product X; 1 unit of product Y