Stagflation can be described as a:
A. Shift right in the aggregate supply curve
B. Shift left in the aggregate supply curve
C. Period of stable prices and high unemployment
D. Period of rising prices and low unemployment
B. Shift left in the aggregate supply curve
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When the U.S. dollar depreciates against the yen, the yen becomes ________ expensive and the U.S. exchange rate ________
A) more; rises B) less; rises C) more; falls D) less; falls
The extent to which investment spending changes with changes to income is called the:
A) marginal propensity to consume. B) marginal propensity to save. C) marginal propensity to import. D) marginal propensity to invest.
If an economy's population grows at 3 percent and real GDP grows at 2 percent, then:
a. per capita real GDP is declining. b. the economy's standard of living is increasing. c. per capita real GDP is negative. d. per capita real GDP is growing. e. the economy is experiencing unemployment.
Periodic fluctuations in real GDP are called
a. business cycles b. recessions c. peaks d. expansions e. troughs