The official settlements account records the change in ________
A) international trade
B) U.S. official reserves
C) foreign investment and domestic investment
D) the reserves held by banks and the Fed
B
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With which of the following statements would a "real business cycle" theorist most closely agree?
A) "Expansionary monetary policy allows the central bank to control inflation and unemployment simultaneously." B) "Monetary policies have the greatest impact on real GDP when they are anticipated." C) "Wages adjust rapidly to changes in inflation as long as expectations are formed rationally." D) "Technological shocks to the economy affect only aggregate demand in the short run."
In the IS model, assuming that the real interest rate does not change, an increase in autonomous ________ leads to an increase in the equilibrium level of ________
A) investment; consumption B) consumption; investment C) net exports; investment D) all of the above E) none of the above
If sellers expect higher basket prices in the near future, the current
a. supply of baskets will increase. b. supply of baskets will decrease. c. supply of baskets will be unaffected. d. demand for baskets will decrease.
African-American worker Jackson earns $30,000 per year; white worker Johnson earns $40,000 per year. On the basis of this information we can conclude that:
A. it is not clear whether discrimination is present in this situation. B. there are no discriminatory forces at work in the labor market. C. Jackson is being discriminated against, but the dollar amount is unclear. D. Jackson is being discriminated against in the amount of $10,000 per year.