The economic expansion which began in March 1991 was unusual in that
A) the first year and a half of the expansion was very weak and unemployment did not peak until 16 months after the trough.
B) the inflation rate decelerated from 1993 to 1997 rather than accelerating.
C) monetary policy was tightened substantially in 1994 even though there was no evidence of accelerating inflation.
D) all of the above.
D
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Consumers should purchase a good up to the point where MU = P.
Answer the following statement true (T) or false (F)
Which of the following does NOT explain why developing countries encouraged new manufacturing industries of their own in the mid 20th century?
A) They were cut off from traditional suppliers of manufactures during WWII. B) Former colonial areas had something to prove; they wanted to attain the same income levels as their former rulers. C) Leaders of these countries feared that their efforts to escape poverty would be doomed if they continues to specialize in primary commodity exports. D) There was political pressure to protect these industries. E) Developing countries ran out of the natural resources that traditionally made up the majority of their trade.
A key international institution that plays an important role in exchange rate determination is the
A) U.S. Currency Board. B) European Central Bank. C) World Bank. D) International Monetary Fund.
Taxes in the United States as a percentage of GDP are among the highest in the world
a. True b. False Indicate whether the statement is true or false