An elasticity is a measure of sensitivity
Indicate whether the statement is true or false
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Holding the actual unemployment rate below the natural unemployment rate eventually causes the natural rate to fall toward the actual, according to the ________ hypothesis, implying that an aggressive stimulative demand policy causes a ________
acceleration of inflation. A) hysteresis, temporary B) hysteresis, permanent C) structuralist, temporary D) structuralist, permanent
The savings of individuals or corporations within a country is called:
A. private savings. B. public savings. C. national savings. D. real GDP.
Each firm in a perfectly competitive industry is
A) producing a unique product. B) relatively large. C) a price taker. D) a price maker.
If the nominal interest rate is 13 percent and the anticipated rate of inflation is 8 percent, the real interest rate is
A. 21 percent. B. -5 percent. C. 13 percent. D. 5 percent.