Higher unemployment tends to be associated with
A. lower real GDP.
B. higher real GDP.
C. the classical model.
D. higher nominal GDP.
Answer: A
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A) rise; no change B) fall; a decrease C) rise; an increase D) fall; an increase E) rise; a decrease
If the Fed sells government securities, other interest rates ________ and then exchange rate ________
A) rise; does not change B) fall; falls C) do not change; rises D) rise; falls E) rise; rises
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What will be an ideal response?
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A) results in the same output but a higher price. B) results in the same output but a lower price. C) results in a larger output at a lower price. D) results in a smaller output at a higher price. E) any of the above may result.