In the United States, incomes have historically grown
a. about 0.5 percent per year.
b. about 2 percent per year.
c. about 4 percent per year.
d. about 6 percent per year.
b
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Consumers expressed outrage at the high price of chainsaws after Hurricane Andrew hit Florida and Louisiana, with newspaper editorials accusing suppliers of unconscionable price gouging. Use a supply and demand graph to assist in explaining the increase in the price of chain saws after Hurricane Andrew.
What will be an ideal response?
Government expenditure ________ change potential GDP and taxes ________ change potential GDP
A) can; can B) cannot; can C) can; cannot D) cannot; cannot E) None of the above answers is correct.
Which of the following changes will shift the money demand curve leftward?
a. An increase in the price level b. An increase in real GDP c. A decrease in the nominal interest rate d. An increase in the nominal interest rate e. A decrease in real GDP
From 1970 to 1998 the U.S. dollar
a. gained value compared to the German mark because inflation was higher in Germany. b. gained value compared to the German mark because inflation was lower in Germany. c. lost value compared to the German mark because inflation was higher in Germany. d. lost value compared to the German mark because inflation was lower in Germany.