In developing nations, the combined rate of urban and rural unemployment or underemployment is about
a. 1 percent
b. 10 percent
c. 20 percent
d. 30 percent
e. 80 percent
D
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
How many regional district banks are in the Federal Reserve System?
a. All banks are part of the system. b. 1 c. 12 d. 6
Suppose the current exchange rate between the U.S. dollar and the Mexican peso is $0.12 = 1 peso. Furthermore, suppose the price level in Mexico rises 25 percent while the U.S. price level remains constant. According to the purchasing power parity theory, what will be the equilibrium exchange rate?
A) $0.15 = 1 peso B) $0.09 = 1 peso C) $0.16 = 1 peso D) $0.096 = 1 peso
Government regulation of working conditions is an example of government as:
A. an owner. B. an actor. C. a referee. D. a dictator.