Since the 1960's, consumer spending in the U.S. has been approximately ________ percent of disposable income, whereas saving has been approximately ________ percent of disposable income
a. 30; 70
b. 50; 50
c. 65; 35
d. 90; 10
d
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If an American firm produces goods that are sold to a German household, then
A) German GDP increases but not U.S. GDP. B) U.S. GDP increases. C) the transaction is considered an export in the German GDP accounts. D) net exports in the United States will not change because an export immediately generates an offsetting import.
By about 1973, U.S. policymakers had learned that
a. there is no trade-off between inflation and unemployment in the short run. b. there is no trade-off between inflation and unemployment in the long run. c. Friedman's analysis of inflation and unemployment had been correct, and Phelps's analysis of inflation and unemployment had been incorrect. d. Phelps's analysis of inflation and unemployment had been correct, and Friedman's analysis of inflation and unemployment had been incorrect.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
Which agency lends money to countries to help them stabilize their exchange rates?
A. the World Bank B. the United Nations C. the Federal Reserve D. the International Monetary Fund