A country's export ratio is
A. The ratio of trade to GDP.
B. The ratio of imports to GDP.
C. The ratio of exports to GDP.
D. The ratio of imports to exports.
Answer: C
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In the short-run, a rise in the money wage rate leads to
A) an increase in the price level and an increase in real GDP. B) an increase in the price level and a decrease in real GDP. C) an increase in the price level, but no change in real GDP. D) no change in the price level, but an increase in real GDP.
When something is indexed:
A. its value is automatically adjusted in proportion to the cost of living. B. it is expressed as nominal value multiplied by price index. C. its real value is converted into nominal terms for comparison. D. its relative rank in consumption items is compensated for relative to its cost.
One study found that unemployment is the economic term mentioned most often in U.S. newspapers
a. True b. False Indicate whether the statement is true or false
The false assumption that what is true for a part will also be true for the whole is called the:
A. paradox of thrift. B. fallacy of composition. C. post hoc fallacy. D. ceteris paribus assumption.