The increase in the productivity of U.S. farmers has caused:
A. More people to be attracted to farming
B. A decrease in the size of the average farm
C. A reduction in the number of people in farming
D. A reduction in the surpluses produced by farmers
C. A reduction in the number of people in farming
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Suppose a report from the Bureau of Labor Statistics states that the CPI for the year 2012 was 152. What is the percentage point increase in the prices of the goods and services since the reference base period?
A) 252 percent B) 100 percent C) 52 percent D) 48 percent E) 152 percent
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the nominal exchange rate and monetary base in the context of the Three-Sector-Model? a. The nominal exchange rate rises and monetary base rises
b. The nominal exchange rate falls and monetary base falls. c. The nominal exchange rate remains the same and monetary base falls. d. The nominal exchange rate and monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The production possibility frontier illustrates:
A. that people usually exploit opportunities to make themselves better off. B. the inverse relation between price and quantity of a particular good. C. that, when markets don't achieve efficiency, government intervention can improve society's welfare. D. the maximum quantity of one good that can be produced given the quantity of the other good produced.
Which approach to measuring money focuses on the value of currency, transaction deposits, and travelers checks?
A. M2 B. the transactions approach C. the liquidity approach D. near moneys