Hyperinflation refers to a period of extremely erratic inflation rates
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 11.5. An increase in exports is best illustrated by diagram
A) A. B) B. C) C. D) D.
The above figure shows the PPF for a country that produces computers and computer factories. Which of the following would most likely shift the PPF from PPF0 in one year to PPF1 in the next?
A) Nothing, because the PPF does not shift. B) Increase the production of computers from 9 million (at point C) to 11 million (at point B). C) Decrease the production of computers from 11 million (at point B) to 9 million (at point C) and build 9 new computer factories. D) Increase consumption of both computers and computer factories. E) Decrease production of both computers and computer factories by moving into the interior of the PPF.
Suppose that in producing a GDP of 3000, goods worth 200 go unsold and are unintentionally added to business inventories. These goods
A) are not counted in total expenditure. B) are part of the investment component of expenditure. C) are nonetheless part of the consumption component of expenditure. D) are classified as net exports and are subtracted from total expenditures.
On a graph with consumption on the vertical axis and disposable income on the horizontal axis, the slope of the line is
A. greater than 1. B. equal to 1. C. less than 1. D. undefined.