In which of the following periods was the relationship between the U.S. unemployment rate and U.S. inflation rate unstable?
A) 1901 to 1909
B) 1911 to 1919
C) 1921 to 1929
D) 1931 to 1939
E) none of the above
D
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The table gives data for a nation. What is the amount of the country's GDP?
A) $6,000 billion B) $6,200 billion C) $6,900 billion D) $5,800 billion E) $6,600 billion
The core personal consumption expenditures price index excludes
A) food and energy prices. B) energy and housing prices. C) food and housing prices. D) housing and health care prices.
Three policy lags limit the effectiveness of monetary policy: recognition lags, implementation lags, and impact lags. Of these three policy lags, fiscal policy is impacted by
A) only implementation and impact lags. B) only recognition and implementation lags. C) only recognition and impact lags. D) all three policy lags.
All other factors being constant, a reduction in price tends to cause which of the following?
A) an increase in supply and an increase in demand B) a reduction in supply and an increase in demand C) an increase in quantity supplied and a reduction in quantity demanded D) a reduction in quantity supplied and an increase in quantity demanded