Refer to Table 9-11. Which country has an absolute advantage in producing clocks?
A) Denmark B) Belize C) both countries D) neither country
A
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During a recession, the duration of unemployment ________ and the unemployment rate is ________ the natural rate of unemployment
A) does not change; equal to B) shortens; equal to C) shortens; greater than D) lengthens; less than E) lengthens; greater than
During the Great Inflation of the 1970s, (a) the growth rates of M1 and M2 were higher than previously, and (b) the growth rate of M2 was much higher than the growth rate of M1
Explain how the high inflation of the decade relates to each of these facts.
QN=77 (17800) In 1949, Sycamore, Illinois built a hospital for about $500,000. In 1987, the county restored the courthouse for about $1.7 million. A price index for nonresidential construction was 24 in 1949, 108 in 1987, and 126.5 in 2000. According to these numbers, the hospital cost about
a. $2.1 million in 2000 dollars, which is less than the cost of the courthouse restoration in 2000 dollars. b. $2.1 million in 2000 dollars, which is more than the cost of the courthouse restoration in 2000 dollars. c. $2.6 million in 2000 dollars, which is less than the cost of the courthouse restoration in 2000 dollars. d. $2.6 million in 2000 dollars, which is more than the cost of the courthouse restoration in 2000 dollars.
The concept of a "political business cycle" suggests that a possible cause of macroeconomic instability is due to the use of fiscal policy for political purposes.
Answer the following statement true (T) or false (F)