Economists typically date the beginning of the gold standard to the period:
a. before 1500.
b. before 1776.
c. between 1880 and 1914.
d. between the two world wars.
e. between 1970 and 2000.
c
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If we compare the CPI to a perfect cost of living index, we find that they are
A) different because the CPI does not measure prices. B) the same thing. C) not the same because the CPI has a fixed reference base period. D) different because the CPI uses a fixed basket and has some measurement difficulties. E) different because the cost of living has nothing to do with prices.
Refer to Figure 13-1. Ceteris paribus, an increase in the value of the domestic currency relative to foreign currencies would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
The most prestigious stock market in the world is the
A) New York Stock Exchange. B) Chicago Mercantile Exchange. C) London Stock Exchange. D) Tokyo Stock Exchange.
The Keynesian view stresses that:
a. demand creates its own demand. b. there is direct relationship between consumer spending and disposable income. c. when aggregate expenditures (demand) can be forever less than full-employment output therefore prolonged unemployment will persist. d. all of these are true.