Variables that change before real GDP changes are measured by the:
a. personal income index.
b. real GDP index.
c. forecasting gauge.
d. index of leading indicators.
d
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If the economy enters a recession
A) frictional unemployment increases. B) structural unemployment decreases. C) cyclical unemployment increases. D) the number of workers on layoff decreases.
Assume there are 75 transactions a year in an economy with a money supply of $300 . If the average value of each transaction is $20, then the velocity of money is
a. 1/2. b. 1 c. .2 d. 20.
The largest colony in 1770 in both population and claims on hinterlands was
(a) Massachusetts (b) Pennsylvania (c) Virginia (d) New York
Suppose an event occurs that causes people to gain faith in the ability of Europeans to pay their euro-denominated debt. Suppose that before this happens the exchange rate between the euro and the dollar is .75 euros/dollar. The resulting exchange rate would likely
A. cause the exchange rate to have to be expressed in dollars per euro (because the other way would no longer make sense). B. rise to (perhaps) .9 euros/dollar. C. fall to (perhaps) .6 euros/dollar. D. remain unchanged.