Examples of deflators are the ________ and ________ deflator
A) real; nominal
B) private disposable income; gross national product
C) personal consumption expenditure; gross domestic product
D) gross domestic product; rental income
E) private disposable income; personal consumption expenditure
C
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Because money growth is a major component determining the inflation rate, in order to forecast inflation we should forecast actions by the
A) Congress. B) President. C) Fed. D) Office of the Treasury. E) U.S. Mint.
A good produced in Japan and sold to Korea
a. is a Korean export and Japanese import b. is a Korean import and Japanese export c. implies that Japan has an absolute advantage in the production of the good d. implies that Korea has a comparative advantage in the production of the good e. implies that Korea has an absolute advantage in the production of the good
The incidence of a tax refers to
a. who actually collects the tax. b. how frequently the tax is collected. c. who bears the economic burden of the tax. d. how the tax affects prices or wages.
Some nations such as Ecuador chose dollarization because:
a. the currency was depreciating so rapidly it became nearly worthless. b. Ecuadorians wanted to save dollars for eventual emigration to the U.S. c. the Ecuadorian currency was backed by gold,which was confiscated by government officials. d. All of these are reasons why such countries chose dollarization.