From the Fisher equation we see that the nominal interest rate and expected inflation have:
A. an inverse relationship.
B. a relationship which is direct and one-to-one.
C. no relationship.
D. a relationship which is direct but less than one-to-one.
Answer: B
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Economists define the labor force to include
A) people who are working. B) only people who are working full time. C) people who are not working but are actively looking for a job, and people who are working. D) all individuals of working age, regardless of whether they are working or looking for a job.
Suppose the number of medical school graduates continues to increase over the next decade. Which of the following is true?
a. Physicians' salaries will rise if the demand for medical services rises more than the supply of physicians rises. b. Physicians' salaries will fall only if the demand for medical services falls. c. Physicians' salaries must rise. d. Physicians' salaries will fall if the demand for medical services rises more than the supply of physicians rises. e. Physicians' salaries must fall.
Which of the following is included in the study of macroeconomics?
A. wage rate of college students B. prices of automobiles C. unemployment in the nation D. price of silver and gold
Refer to the table below. At a price of $15 per unit, which of the following would exist?
A. A shortage of 1,600 units
B. A surplus of 1,000 units
C. A shortage of 1,000 units
D. A surplus of 600 units