GDP per capita means GDP:
A. in real terms.
B. adjusted for inflation.
C. per person.
D. divided by the capital stock.
Answer: C
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Higher U.S. interest rates cause the value of the dollar to
A) rise, making U.S. goods relatively cheaper on world markets. B) fall, making U.S. goods relatively cheaper on world markets. C) rise, making U.S. goods relatively more expensive on world markets. D) fall, making U.S. goods relatively more expensive on world markets.
All individuals and firms in a country must gain from trade in order for it to be beneficial to the nation
Indicate whether the statement is true or false
The expected real interest rate approximately equals
A) the nominal interest rate minus the tax rate. B) the nominal interest rate minus the expected rate of inflation. C) the nominal interest rate plus the expected rate of inflation. D) the yield to maturity on a coupon bond held to maturity.
Once the Phillips curve has shifted up, the economy is ________ because ________
A) better off; every unemployment rate becomes associated with a higher inflation rate B) better off; every inflation rate becomes associated with a lower unemployment rate C) worse off; every inflation rate becomes associated with a higher unemployment rate D) worse off; every unemployment rate becomes associated with a lower inflation rate