The index used most often to measure inflation is the
A. GDP deflator.
B. wholesale price index.
C. producer price index.
D. consumer price index.
Answer: D
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Net exports is calculated by:
A. adding total exports and total imports together. B. subtracting total exports from total imports. C. subtracting total imports from total exports. D. None of these is correct.
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
In the New Keynesian open economy model with a flexible exchange rate, an increase in anticipate future total factor productivity
A) has no effects. B) increases aggregate output. C) reduces aggregate consumption. D) causes an exchange rate appreciation.
Unexpected discoveries of mineral reserves will ordinarily cause the price of these minerals to increase
a. True b. False Indicate whether the statement is true or false