Assume that Country X and Country Y are trading partners and the exchange rates are fixed. If prices in Country Y rise, all of the following are expected to happen except
a. Country X will export more.
b. Country Y will import more.
c. Net exports will rise for Country X.
d. Trade will boost Country Y GDP.
d
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When the aggregate expenditures of a nation exceed its output, _____
a. the nation's inventories fall b. the government purchases of goods and services fall c. the nation's firms decide to decrease their level of production d. there will be an inflationary increase in the price level
Frictional unemployment best defined as
A. Deviation of unemployment from its natural rate B. Unemployment of people who do not want to work. C. Chronic unemployment due to wages not balancing supply and demand D. Unemployment due to individuals search for new job.
Which of the following numbers, if it were equal to the 80/20 ratio for a particular country, would indicate the most inequality?
A. 1
B. 2
C. 0
D. 0.5
Which of the following is a determinant of supply?
A. number of consumers B. tastes and preferences of consumers C. consumer income D. technology