Social Security payments automatically increase when CPI goes up because of the
What will be an ideal response?
cost of living adjustments
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If society produces at a point inside the production possibilities frontier, it is characterized by full employment of resources.
Answer the following statement true (T) or false (F)
Assume that potential GDP is $200 billion and the multiplier equals 5 . The recessionary gap is $10 billion. What is the actual level of equilibrium income?
a. $200 billion b. $150 billion c. $100 billion d. $80 billion e. $50 billion
The purchasing power parity theory is useful in making ____ predictions about exchange rates and their fluctuations
a. long-run b. intermediate-run c. medium-run d. short-run
Suppose 80% of U.S. trade is with England and the rest is with Japan. If the dollar rises by 10% against the pound and rises by 20% against the yen, what is the percentage change in the effective exchange rate of the United States?
a. -16% b. -12% c. -8% d. -4%