In 1980, one Zimbabwean dollar was worth 1.47 U.S. dollars. By the end of 2008, the exchange rate was one U.S. dollar to 2 billion Zimbabwean dollars
When an economy experiences rapid increases in the price level such as what occurred in Zimbabwe, the economy is said to experience
A) inflation. B) stagflation. C) hyperinflation. D) deflation.
C
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A real appreciation of the dollar is caused by either a nominal appreciation of the dollar, a rise in the foreign price level, or a fall in the U.S. price level
Indicate whether the statement is true or false
The Bureau of Labor Statistics counts underemployed persons as those who are currently working:
A. less than they would like to be. B. in a job for which they are overqualified for. C. less hours than their employer requires full-time workers to work. D. in a field that doesn’t add a lot to overall GDP.
It may be necessary to ration a good whenever ___________ exists.
A. a surplus B. excess demand C. excess supply D. None of these choices are correct.
Which of the following events can not cause the labor-supply curve to shift?
a. a change in people's attitudes toward work b. an increase in the price of output c. a change in workers' alternative opportunities d. an increase in the rate of immigration