Part of the normal aftermath of a period of excessive aggregate demand is
a. improvement in the quality of life.
b. reflation.
c. real GDP growth.
d. stagflation.
e. All of the above.
d
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Suppose $1 buys 1.20 euros in January and then it buys 1.10 euros in the following December. As a result
A) the dollar has appreciated. B) the euro has appreciated. C) the euro has depreciated. D) both answers A and C are correct.
If the United States' price level is below the world price level, all of the following would be successful in raising the world price (supply) level except:
A. wages in the United States falling. B. the value of U.S. assets falling. C. the dollar appreciating. D. the United States gaining a comparative advantage.
Consider two lottery winners, Tino who is 65 years old and Sasha who is 32 years old. Which of these two would be expected to have the larger income effect, all else equal?
A) Sasha B) Tino C) Both would have no income effect. D) Both would have equal income effects.
In a recent year GDP per capita in the United States was much higher than GDP per capital in France. Why would there be such a large difference in GDP per capital between two rich leader countries?
What will be an ideal response?