Recessions typically cause the unemployment rate to ________ and the inflation rate to ________
A) fall; fall B) fall; rise C) rise; fall D) rise; rise
C
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If the Federal Reserve is interested in conducting contractionary policy, what types of policies should it consider?
What will be an ideal response?
Corrina was working as a waitress in an Italian restaurant making an annual income of $25,000 per year when she decided to start up her own catering business
Corrina used $10,000 of her savings that was earning 5 percent annual interest to establish her business. After the first year she made an accounting profit of $20,000. Her economic profit was A) $5,550. B) -$5,000. C) $20,000. D) $25,000.
If Michelle can buy a woolen jacket for 40 yuan in China, and Rebecca pays $40 for the same jacket in the U.S., it implies that the exchange rate between these two nations is 10 yuan = $1
a. True b. False Indicate whether the statement is true or false
Engel's law states that income elasticities are
a. negative for normal goods b. positive for inferior goods c. higher for food in industrialized nations than in nonindustrialized nations d. less than one for food e. usually about equal to one