In the foreign-exchange market, trading
A) is restricted to the hours 10 A.M. to 3 P.M. New York time.
B) may not take place after 5 P.M. London time.
C) takes place at any hour of the night or day.
D) takes place at prices set by the U.S. government in consultation with the governments of other leading countries.
C
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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
If the economy is at macroeconomic equilibrium, then real GDP
A) must equal potential GDP. B) must be less than potential GDP. C) must be great than potential GDP. D) might be equal to, greater than, or less than potential GDP. E) cannot be compared to potential GDP.
Suppose that last year the Consumer Price Index was 124; this year it is 130.7. What was the inflation rate between these years?
A) 30.7 percent B) 6.7 percent C) 5.4 percent D) 5.1 percent
If by purchasing more apples and fewer oranges you increase your total utility, then apples must be cheaper than oranges
Indicate whether the statement is true or false