Faced with increasing outflows of gold in the late 1960s and early 1970s, the United States
A. decreased the dollar price of gold.
B. used contractionary fiscal policies to rid the nation of deficits.
C. suspended the convertibility of dollars into gold.
D. encouraged other countries to increase their domestic interest rates.
Answer: C
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If 2010 is the base year in the table shown above, what is the price index for the year 2010?
A) 100.0 B) 121.3 C) 147.1 D) 141.7
An underground economy:
a. is a market where transaction occurs under the ground. b. is a market where the buyers and sellers make transactions without the government’s approval. c. is a market where the buyers and sellers make transactions with the government’s approval. d. is a market that is international in scope and fully authorized to conduct business.
Select the graph above that best shows the change in the market specified in the following situation: In the market for chicken, when the price of a substitute, such as beef, decreases.
Graph A Graph B Graph C Graph D
In the upward-sloping segment of the aggregate supply curve,
A. increases in output are linked to decreases in the price level. B. firms are willing to pay higher wages to get more labor. C. producers can hire more workers without having to raise the wage rate. D. the economy can increase aggregate supply without prices going up.