Inflation doves lean in the direction of milder recessions and are more willing to tolerate higher inflation
a. True
b. False
A
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Under a managed float system, central banks can
A) allow international reserve changes. B) let exchange rates adjust to market pressure. C) experience reserve changes and exchange rate changes. D) All of the above.
If S = 250, T = 170, NX = -20, this makes government saving
A) -50. B) -70. C) 70. D) 50. E) -100.
A perfectly inelastic demand is one in which the:
A. demand curve is perfectly vertical. B. demand curve is perfectly horizontal. C. measured elasticity is exactly 1. D. response to a change in price is immediate.
Daniel owns a coffee kiosk. All of his employees work 8 hours per day. In 2011, he employed 6 people who produced a total of 912 cups of coffee each day. In 2012, he hired a seventh employee and production increased to 1008 cups of coffee each day. In Daniel's kiosk, productivity
a. increased by about 10.5 percent b. increased by 9.5 percent c. decreased by about 5.6 percent d. decreased by about 5.3 percent