The table below shows data for Japan
2008 2009
M1 growth rate 0.7 0.9
Inflation rate 0.4 -0.3
Assuming the rate of velocity change is constant, real GDP
A) grew by 0.3 percent in 2008.
B) grew by -1.2 percent in 2009.
C) grew by 1.1 percent in 2008.
D) grew by 0.9 percent in 2009.
A
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An increase in the amount of physical capital will cause
A) an increase in both aggregate demand and real GDP, but have no effect on the price level. B) an increase in both aggregate supply and real GDP, but have no effect on the price level. C) aggregate demand and aggregate supply to increase by the same amounts, causing real GDP to increase and the price level to remain constant. D) an increase in both aggregate supply and real GDP and a reduction in the price level.
Some argue that the best response to monopolies is no response at all, because:
A. they are too powerful to be dealt with effectively. B. no one can ever decide which monopolies to regulate. C. the creation of regulation may be too difficult. D. left unchecked, all monopolies eventually shut down.
Two CEOs from different firms in the same market collude to fix the price in the market. This action violates the
a. Clayton Act of 1914. b. Sherman Antitrust Act of 1890. c. Crandall-Putnam ruling of 1983. d. Jackson-Microsoft ruling of 2000.
The market price is
A. usually higher than the equilibrium price. B. always easy to determine. C. the typical price at which a good or service sells. D. the exact price a product sells for at a specific time.