Michael Potter argued that ____ led to firms earning economic profit over extended periods of time
A) the ease of substitution
B) market power
C) the extent of consumer power
D) degree of competition from foreign tariffs
B
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Refer to Figure 28-2. Suppose the economy is at point A in the figure above. Which of the following is true?
A) Actual inflation is 1%. B) The economy will move from A to B. C) The expected rate of inflation is 5.5%. D) The current unemployment rate is 3.8%. E) The current unemployment rate is equal to the natural rate of unemployment.
The Phillips Curve relationship is most closely associated with:
a. Cost-push inflation. b. Demand-pull inflation. c. Push-push inflation. d. Excessive government regulation. e. The appreciation of exchange rates for open economies that rely heavily on foreign inputs.
Which of the following countries had the highest unemployment rate for workers under 25 in 2009?
A. Italy B. France C. Great Britain D. Spain
If there are no interventions by finance ministers or control banks in the international market, then
A) the current account and the capital account must sum to zero. B) the current account will be greater than the financial market. C) the capital market will be greater than the current account. D) the capital market will equal the current account.