The economist A.W. Phillips published a famous article in 1958 in which he showed a
a. negative correlation between the rate of unemployment and the rate of inflation.
b. positive correlation between the rate of unemployment and the rate of inflation.
c. negative correlation between the rate of unemployment and the rate of interest.
d. positive correlation between the rate of unemployment and the rate of interest
a
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The quantity of money that people choose to hold depends on which of the following?
I. The price level II. Financial innovation III. The exchange rate A) I B) I and II C) I and III D) I, II, and III
The Smoot-Hawley Tariff
A) raised average tariff rates by over 50 percent in the United States in 1930. B) was passed by the U.S. Congress following the Civil War as a means of increasing government revenue. C) was passed by the U.S. Congress upon a recommendation made by the General Agreement on Tariffs and Trade (GATT) in 1948. D) lowered U.S. tariffs by 50 percent following World War II.
Health care improvements often don't happen because:
A. they are too expensive to have any significant impact. B. national health insurance only exists in highly developed countries, like the U.S. C. doctors in government clinics have no incentive to practice good medicine. D. home remedies and traditional medicine are generally more expensive.
The primary purpose of GATT is to
a. protect the United States from cheap foreign labor b. foster trade among nations c. promote the dumping of foreign goods d. prevent the dumping of foreign goods e. form a union of European nations