Figure 33-8
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In Figure 33-8, policymakers can choose which of the following points as sustainable inflation–unemployment combinations?
A. Only E
B. A or B
C. A, B, C, D, E
D. B, E, C
Answer: D
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The trade-to-GDP ratio for a nation that had $600 million in exports, $400 million in imports, and GDP of $2,000 million would be
A) 0.1. B) 0.2. C) 0.5. D) -0.1.
The primary function of the International Monetary Fund is
A) to provide loans only to private firms in developing countries. B) to make direct, irrevocable transfers of funds from wealthy nations to poor nations. C) to lend solely on the basis of a nation's relative poverty. D) to make loans aimed at promoting global stability and hence growth.
Figure 10-5
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Figure 10-5 shows the short-run cost relationships for a perfectly competitive firm. Based on this diagram, which point would not be on the firm’s short-run supply curve?
A. D B. B C. C D. H
Which of the following explains why a $100 billion reduction in consumption spending might decrease equilibrium real GDP by more than $100 billion?
a. Say's law. b. The quantity theory of money. c. Flexible resource prices. d. The multiplier principle.