The amount of output lost when the inflation rate is reduced by one percentage point is called
A) Okun's law.
B) the sacrifice ratio.
C) the Solow residual.
D) Planck's constant.
B
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If the equilibrium exchange rate of the dollar is 1.10 euros per dollar and currently the exchange rate is 0.90 euros per dollar, then there is a ________ of dollars that leads to ________
A) surplus; the supply curve of dollars shifting leftward B) shortage; a rise in the exchange rate C) surplus; a rise in the exchange rate D) shortage; the supply curve of dollars shifting rightward E) shortage; the demand curve for dollars shifting rightward
Assuming that C + Ir + G < C + I + G, then
a. there is an unintended inventory accumulation. b. there is an unintended inventory shortfall. c. aggregate demand is less than output. d. Both b and c
Why does the government grant patents universally rather than just to those products that would not be developed without a patent?
What will be an ideal response?
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.