If the United States CPI was 37 in 1973 and in 2016 it was 215.3. By what percent did prices increase in the United States between 1973 and 2016? (Not the annual rate of change, but total.)
A. 5
B. 482
C. 545
D. 48
Answer: B
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Assuming the price level has not changed, how would an increase in the aggregate demand affect real GDP?
A) It only changes with changes in exports. B) It increases. C) It only changes with changes in imports. D) It decreases.
In the short run in the Keynesian model, an increase in the domestic money supply would cause domestic output to ________ and the domestic real interest rate to ________
A) rise; rise B) fall; rise C) rise; fall D) fall; fall
If the price of inputs rises and foreign income rises:
a. Price index falls, and real GDP rises. b. Price index falls, and real GDP falls. c. Price index falls, and the change in real GDP is uncertain. d. Price index rises, and the change in real GDP is uncertain. e. The change in price index is uncertain, and real GDP falls.
If Great Britain experiences higher rates of inflation than the United States over a long period of time, we should expect the British £ (pound) per U.S. $ (dollar) exchange rate to:
A. hold constant, there isn't any link between inflation and exchange rates. B. fluctuate in a narrow range set by the Bank of England. C. increase. D. decrease.