Cost-push inflation is due to:
a. labor cost increases.
b. energy cost increases.
c. raw material cost increases.
d. all of these.
d
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Suppose that in 2011 nominal GDP increased and real GDP decreased relative to the year 2010 . It can be concluded that:
a. the economy experienced inflation and the total production of goods and services increased. b. the economy experienced deflation and the total production of goods and services increased. c. the economy experienced inflation and the total production of goods and services decreased. d. the economy experienced deflation and the total production of goods and services decreased.
According to purchasing-power parity, if it took 1,100 Korean Won to buy a dollar this year, but it took 1,000 to buy it last year, then the dollar has
a. appreciated, indicating inflation was higher in the U.S. than in Korea. b. appreciated indicating inflation was lower in the U.S. than in Korea. c. depreciated indicating inflation was higher in the U.S. than in Korea. d. depreciated indicating inflation was lower in the U.S. than in Korea.
One way the government decides how to pay for a public good is:
A. the transfer of surplus. B. the ease of collecting payout. C. if they can make the good excludable and charge its users. D. All of these are ways the government allocates payment of public goods.
If the value of the dollar falls relative to other currencies, the price of goods and services produced in the United States will appear:
A. more expensive to foreigners. B. more expensive to U.S. citizens. C. cheaper to foreigners. D. the same to foreigners.