Refer to Figure 28-9. Fed Chairman Paul Volcker's response to the ________ of the late 1970s is depicted in the figure above as a movement from C to D to A
A) appreciation of the dollar B) high inflation
C) high unemployment D) deflation
B
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If real salaries increase but nominal salaries do not, this means that
A) the purchasing power of money has decreased. B) prices have risen. C) prices have not changed. D) prices have fallen.
The goal of a gold standard is to
A) return money back to its natural state. B) shift wealth from the middle class to the rich. C) reduce uncertainty by limiting the power of the Federal Reserve to increase the amount of money in circulation. D) conserve on natural resources, such as pulpwood, used to make paper money.
The marginal cost curve intersects the average variable cost curve (AVC)
a. only when the AVC is rising b. at the AVC curve's maximum point c. at the AVC curve's minimum point d. only when the AVC is sloping downward e. when the AVC intersects the fixed cost curve
The effect of an extention in upemployment benefits on the unemployment rate in the country.
A. MicroEconomics B. MacroEconomics