International data on real GDP per person gives us a sense of how standards of living vary across countries
a. True
b. False
Indicate whether the statement is true or false
True
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The curve showing the short-run relationship between the ________ and the ________ is called the Phillips curve
A) unemployment rate; inflation rate B) exchange rate; real interest rate C) price level; real GDP D) nominal interest rate; real interest rate
Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
The relatively low rate of inflation coupled with a low unemployment rate that occurred in the 1990s represented a "normal" economic situation
a. True b. False Indicate whether the statement is true or false
What condition is necessary for a price floor to have an impact on a market? Describe two effects that a price floor can have on a market