The annual percentage rate of change in the price level is the:
A. relative price.
B. Fisher effect.
C. inflation rate.
D. cost of living.
Answer: C
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Suppose the United States eliminates high tariffs on German bicycles. As a result, we would expect
A. the price of German bicycles to increase in the United States. B. employment to decrease in the U.S. bicycle industry. C. employment to decrease in the German bicycle industry. D. profits to rise in the U.S. bicycle industry.
Americans generally pay
A. a lower percentage of their incomes in taxes than citizens of other industrialized countries. B. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands. C. about the same percentage of their incomes in taxes as citizens of other industrialized countries. D. a higher percentage of their incomes in taxes than citizens of other industrialized countries.
What role did the Reconstruction Finance Corporation play in the banking collapse of the early 1930s?
a. It provided loans to troubled banks. b. It provided insurance for consumer deposits. c. Its new regulations forced undercapitalized banks out of business. d. Its failure sparked a widespread run on bank deposits.
Megan has opened a new startup company in web design. Within the first month of business, the startup agrees to maintain an accounting firm's website in exchange for someone doing their tax returns. Which of the following principles of economic interaction best describes this scenario?
a. All costs are opportunity cost. b. Trade can make everyone better off. c. When markets do not achieve efficiency, government intervention can improve overall welfare d. Market allocate goods effectivity