Microeconomics is the study of economics from the standpoint of:
a. The entire economy, or large sectors of it
b. Specific economic units which make up our economic system
c. All consumers and producers in the economy
d. The aggregate levels of income, employment, and prices
b. Specific economic units which make up our economic system
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The level of GDP, all else held constant, will tend to increase when ________.
A. reserve requirements are increased B. there is an increase in the discount rate C. the federal funds rate is increased D. the Federal Reserve buys government securities in the open market
Which of the following is NOT considered a receipt in the balance of payments?
A) exports of goods B) capital inflows C) import of services D) unilateral transfers to U.S. citizens
The U.S. Air Force pays a Turkish citizen $30,000 to work on a U.S. base in Turkey. As a result,
a. U.S. government purchases increase by $30,000; U.S. net exports decrease by $30,000; and U.S. GDP is unaffected. b. U.S. government purchases increase by $30,000; U.S. net exports are unaffected; and U.S. GDP increases by $30,000. c. U.S. government purchases, net exports, and GDP are unaffected. d. U.S. government purchases are unaffected; U.S. net exports decrease by $30,000; and U.S. GDP decreases by $30,000.
If the CPI was 120 in 1994, was 126 in 1995, and was 134.82 in 1996, what was the inflation rate in 1995 and in 1996?