Urban work units in China receive
a. job security
b. low priced food
c. free health care
d. subsidized housing
e. all of the above
E
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If the price level is 100 in one year and rises to 102 the next year, then the inflation rate is
A) 0.02 percent. B) 100 percent. C) 102 percent. D) 2.0 percent. E) unable to be determined without knowing potential GDP.
Lessons that economists and policy makers have learned from the recent global financial crisis include
A) Developments in the financial sector have a far greater impact on economic activity than was earlier realized. B) The zero lower bound on interest rates can be a serious problem. C) The cost of cleaning up after a financial crisis is very high. D) Price and output stability do not ensure financial stability. E) All of the above.
An economic variable that moves in the same direction as aggregate economic activity (up in expansions, down in contractions) is called
A) procyclical. B) countercyclical. C) acyclical. D) a leading variable.
The Stock Market Crash of 1929 probably contributed ____ to the Great Depression because _____
a. little, it did no more than wipe out the speculative gains made earlier. b. little, the Fed responded by increasing the money supply. c. a good deal, corporations could no longer raise investment funds. d. a good deal, consumer confidence and spending on durables were reduced.