Which of the following is NOT one of the "unholy trinity" of events that interact to fuel an explosive hyperinflation?
A) supply shocks
B) monetary accommodation
C) exchange rate appreciation
D) frequent wage indexation
C
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As the price of a resource (e.g., labor) decreases,
a. demand for that resource increases b. the quantity demanded of that resource decreases c. the supply of that resource increases d. producers are more willing and able to hire that resource e. producers are less willing and able to hire that resource
Which of the following statements is true?
A. The four phases of the business cycle, in order, are: peak, recovery, trough, recession. B. When unemployment is rising then real GDP is rising. C. The economic problem typically associated with a recovery is rising unemployment. D. Full employment exists in an economy when the unemployment rate equals the sum of frictional, and structural unemployment rates.
Goods produced in the United States and sold in other countries are called
A) imports.
B) foreign goods.
C) capital goods.
D) exports.
E) capital account goods.
Income inequality is
A. Often greatest in the poorest countries. B. Often greatest in the richest countries. C. An issue because households in the lowest quintile receive more than their share of income. D. Not an issue in the United States because of the redistribution of income through the federal tax system.