Which of the following curves show an inverse relationship between a nation's inflation and unemployment rates?
a. The aggregate demand curve.
b. The aggregate supply curve.
c. The short-run Phillips curve.
d. The long-run Phillips curve.
c
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Discuss how economists calculate NI, PI and DI
What lesson for Chinese economic reform?
a. Economic liberty comes before market institutions b. Authoritarian regimes are good at initiating reforms c. Deng placed economic reforms before political reforms d. China has the one child-family policy. e. All of the above
The yield curve is the relationship between the:
a. Domestic yield and foreign yield. b. Real yield (i.e., interest rate) and actual inflation. c. Nominal yield and time to maturity of a security. d. Nominal yield on corporate securities and the yield of government securities. e. Nominal yield and real yield of a security.
Answer the following questions true (T) or false (F)
1. Consider a country that produces only two goods: parrots and iguanas. Suppose it is impossible for this country to increase its production of parrots without producing fewer iguanas. In this case, its current output combination is efficient. 2. Any output combination along a production possibilities frontier is associated with fully utilized resources. 3. A decrease in population shifts the production possibilities frontier outwards over time.