If the expected rate of inflation rose at the same time the natural rate of unemployment rose, the short-run Phillips curve
A. would not move.
B. would shift up.
C. would shift down.
D. might shift up or down or not move, depending on which effect was larger.
Answer: B
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GDP using the expenditure approach equals the sum of personal consumption expenditures plus
A) gross private investment. B) gross private investment plus government expenditure on goods and services. C) gross private investment plus government expenditure on goods and services minus imports of goods and services. D) gross private investment plus government expenditure on goods and services plus net exports of goods and services.
Suppose the extra cost to a car wash of advertising one additional day each month on a local radio station is $175
Then, the car wash should advertize that one additional day each month if doing so brings in additional revenue of $175 or more each month. Indicate whether the statement is true or false
To join the EMU, a country must have a public debt below or approaching a reference level of
A) 50 percent of its GDP. B) 10 percent of its GDP. C) 60 percent of its GDP. D) 100 percent of its GDP. E) 5 percent of its GDP.
Suppose a bank has $200,000 in deposits and a reserve ratio of 15 percent. Its required reserves are:
A. $350. B. $1,500. C. $3,000. D. $30,000.