The common term for a severe recession is a
A) bottoming out. B) economic adjustment.
C) depression. D) downturn.
C
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) Domestic output in country A will, after immigration:
A. Decrease by $50M
B. Decrease by $150M
C. Increase by $50M
D. Increase by $150M
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Suppose in London £/$ = 0.5 while in New York £/SF = 0.2. The corresponding cross rate (SF/$) is
A) 2.5. B) 0.1. C) 0.4. D) 0.3.
For which of the following medical goods or services is the income elasticity of demand likely to be largest?
a. emergency services after a car accident b. measles shots c. physical examinations for life insurance applications d. medical tests to diagnose specific symptoms e. face-lifts