Which of the following is an alternative measure of exchange rate proposed by The Economist magazine?
A) The midcap index B) The Consumer Price Index
C) The Big Mac Index D) The GDP deflator
C
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Refer to Figure 3-1. A decrease population would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
In a small country, there are 5,000 people in the labor force and 3,000 people are employed. The labor force participation rate equals
A) 40 percent. B) 60 percent. C) 62.5 percent. D) an undetermined amount given the lack of information.
Tariffs to limit imports to "protect U.S. jobs" will also
A) stimulate exports. B) limit exports. C) decrease import prices. D) reduce domestic production of import-threatened products.
Positive economic statements are usually easier to refute with data than normative economic statements are
a. True b. False