Which of the following impacts of the terrorist attacks of September 11, 2001, would not show up as a direct loss to GDP?
a. The loss of jobs in the WTC
b. The loss of restaurant income near ground zero
c. The loss of WTC itself
d. The loss of rental income to landlords for buildings near ground zero
e. The loss of jobs in the surrounding area.
C
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Suppose the economy is producing at the natural rate of output. A decrease in consumer and business confidence will cause ________ in real GDP in the long run and ________ in inflation in the long run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
An economy with a government planning commission that provides explicit instructions for resource allocation is an example of
a. a command economy b. a communal economy c. a traditional economy d. a market economy e. market socialism
Suppose there is a shortage in the market for loanable funds. Is the interest rate above or below its equilibrium level? How do desired saving and desired investment at this interest rate compare?
The U.S. dollar has depreciated relative to the Japanese yen if it takes
A) fewer yen to buy a dollar. B) more yen to buy a dollar. C) more dollars to buy a yen. D) fewer dollars to buy a yen. E) a and c