Figure 19-2
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Of the graphs in Figure 19-2, which one shows the effect of an increase in interest rates in Japan?
A. 1
B. 2
C. 3
D. 4
Answer: A
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In economics, the word "aggregate" refers to
A) the government. B) how individual households differ from each other. C) the public sector itself. D) an economy as a whole.
Last year the Jones family earned $40,000 . This year their income is $42,000 . In an economy with an inflation rate of 10 percent, which of the following is correct?
a. The Jones' nominal income and real income have both fallen. b. The Jones' nominal income and real income have both risen. c. The Jones' nominal income has increased and their real income has fallen. d. The Jones' nominal income has decreased and their real income has risen.
All of the following are examples of normative statements EXCEPT:
A. Output per person typically grows more slowly than output per worker. B. Low unemployment is more desirable than low inflation. C. Output per person should increase at an average annual rate of 5 percent. D. High rates of economic growth are preferable to low rates.
Most checkable deposits are insured up to $250,000 by
A. state banking commissions. B. the Federal Reserve Board. C. the U.S. Department of the Treasury. D. the Federal Deposit Insurance Corporation.