If the base year for an index is 2005 and the value of the index in 2008 is 165.1, by what percent has the measure grown over those 3 years?
a. 165.1 percent
b. 100.0 percent
c. 6.51 percent
d. 0 percent
e. 65.1 percent
E
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Compared to the initial equilibrium, an initial increase in aggregate demand that is NOT followed by an increase in the quantity of money results in new long-run equilibrium with
A) a higher price level but the same real GDP. B) a higher price level and an increased level of real GDP. C) the same price level and a lower level of real GDP. D) the same price level and the same real GDP. E) None of the above answers is correct.
Which of the following is an example of a nonexcludable product?
A) Internet service for your home computer B) public transportation C) college education D) a public library
If the private sector wishes to hold a constant quantity of real government bonds, inflation requires that the private sector continuously ________ those bonds, so that the government ends up having to pay out interest on net equal to the ________
interest rate times the bonds outstanding. A) sell, nominal B) sell, real C) buy, nominal D) buy, real
In the period 1960–95,
(a) the relations between capital and labor (owners and workers) continued to be as hostile and violent as they were in the 1930s and earlier. (b) the relations between capital and labor (owners and workers) continued to be cooperative and peaceful, as they had been throughout U.S. history. (c) an accord was struck which involved more cooperative relations between capital and labor and encouraged high rates of productivity in industry. (d) the federal government intervened with a strong hand to ensure that labor and capital worked together cooperatively.