According to the Economic Freedom Index,
A) countries with the lowest economic freedom enjoyed the highest per capita GDP.
B) countries with the highest economic freedom enjoyed the lowest per capita GDP.
C) countries with the highest economic freedom enjoyed the highest per capita GDP.
D) there is no relationship between economic freedom and per capita GDP.
C
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When GM advertises its cars, the company is trying to cause a
A. rightward shift in the supply. B. rightward shift in the demand. C. leftward shift in the supply. D. leftward shift in the demand.
Which of the following is NOT part of M1?
A) credit cards B) checking accounts C) currency D) traveler's checks
When the economy fluctuates around its long-run aggregate supply:
A. it is called the business cycle. B. the economy is in a state of chaos. C. the value of currency becomes unstable. D. we must be in a recession.
If purchasing power parity holds, then if the price of a basket of goods in the U.S. rose from $1.000 to $1,200 and the price of the same basket in Poland rose from 6,400 Polish zloty to 8,000 zloty, then
a. the nominal exchange rate would be unchanged and the real exchange rate would appreciate. b. the U.S. dollar would appreciate and the real exchange rate would stay the same. c. the nominal exchange rate would be unchanged and the real exchange rate would depreciate. d. the U.S. dollar would depreciate and the real exchange rate would be unchanged.