The NAIRU is a key indicator of how
A. much the economy can slow down without a recession.
B. much structural unemployment the economy can sustain.
C. unemployment trends occur.
D. much faster the economy can grow without pushing up inflation.
Answer: D
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Refer to the scenario above. If Maria borrows her parents' car and pays for only the gasoline, what is her total cost of driving to destination A?
A) $90 B) $250 C) $300 D) $340
The best weather in a decade has given Australia a bumper wheat crop. Australia is a small open economy. Based on this information alone, you would expect that
A) desired investment would decrease. B) desired investment would increase. C) the current account would increase. D) the current account would decrease.
If initially the money supply is $1 trillion, velocity is 5, the price level is 1, and real GDP is $5 trillion, an increase in the money supply to $2 trillion
A) increases real GDP to $10 trillion. B) causes velocity to fall to 2.5. C) increases the price level to 2. D) increases the price level to 2 and velocity to 10.
All of the following observations concerning the elasticity formula are true except
a. the changes with which it deals is measured as a percentage change. b. each of the percentage changes is calculated in terms of the average values. c. the calculation considers both positive and negative signs. d. each percentage change is taken as an "absolute value."