Which of the following would most likely NOT be taught in a macroeconomics course?
A) price changes in the world's oil markets
B) factors leading to different economic growth rates among countries
C) government actions in response to a slowdown in the economy
D) the relationship between the inflation rate and the unemployment rate
Answer: A
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A vertical demand curve has an elasticity of demand equal to zero
a. True b. False Indicate whether the statement is true or false
There is an exchange rate between
a. every pair of currencies. b. the world's major currencies but not between the currencies of less-developed countries. c. currencies on a fixed-exchange rate system but not for those on a floating-rate system. d. the currencies of the European Union but not for the nations outside the European Union.
Using the rule of 72, determine how long it would take for real GDP to double if it grew at a constant growth rate of 8 percent.
A. 8 years. B. 9 years. C. 576 years. D. 72 years.
Suppose the short-run supply curve is a straight line of slope +1 that intersects the origin. The long-run supply curve will be
A) horizontal. B) steeper. C) shallower. D) vertical.