The graph shows the market for ski chalets in Aspen. The Aspen Tourist Board asks the local government to impose a rent ceiling on ski chalets. If the rent ceiling is set at $1,900 a week, then there is
A) a shortage of 3,000 chalets a week.
B) a surplus of 3,000 chalets a week.
C) neither a shortage nor surplus of chalets.
D) a shortage of 6,000 chalets a week.
E) a surplus of 6,000 chalets a week.
A
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During the Great Depression, cyclical unemployment increased as the recession continued. This increase in cyclical unemployment
A) increased the natural rate of unemployment. B) could have increased or decreased the natural rate of unemployment. C) decreased the natural rate of unemployment. D) had no effect on the natural rate of unemployment.
If the GDP deflator in 2011 was 130 compared to a value of 100 during the 2005 base year, this would indicate that
a. the inflation rate during 2011 was 30 percent. b. the general level of prices during 2011 was 30 percent higher than during 2005. c. the inflation rate during 2011 was 130 percent. d. nominal GDP grew by 30 percent during 2011. e. real GDP was 30 percent higher in 2011 than 2005.
Mandy purchases 68.2 shares of a mutual fund for $1,500 . Cassie's purchase of these shares contributes $1,500 to which magnitude in the identity Y = C + I + G?
a. C b. I c. G d. None of the above are correct.
The advantages of a currency union may extend to political relationships, too. How?
A) Currency unions, unfortunately, create political dissension. B) Currency unions can be used by the larger nations to grab political power. C) Currency unions reduce each nation's individual political power. D) Currency unions enhance each nation's identification with other nations in the currency union.