Which nation has experienced the lowest unemployment rates during the past two decades?
a. Canada
b. France
c. Japan
d. Italy
c. Japan
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Assume an economy produces only hamburgers and hotdogs and the base year is 2005. Quantity producedPrices 2005200620052006Hamburgers2,0003,0002$3Hotdogs3,0004,0001$1.50Given the data in the table above, what is the value of real GDP in 2006?
A. $ 7,000 B. $ 5,000 C. $10,000 D. $10,500
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2008, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2009, the price of pizzas went down to $8 each, while the prices of jeans and milk remained the same. Between 2008 and 2009, a typical family's cost of living:
A. remained the same. B. increased by 4.5 percent. C. decreased by 4.5 percent. D. decreased by 20 percent.
In an open economy with fixed exchange rates, monetary policy is most effective at increasing real income if
A) capital mobility is high. B) capital mobility is low. C) capital mobility is perfect. D) monetary policy is ineffective with fixed exchange rates.
Banks act as:
A. an organizer among firms in a specific market. B. intermediaries between borrowers and savers. C. informants to various buyers about prices and contracts. D. a negotiator for buyers.