If an economy's institutional production possibilities frontier (institutional PPF) shifts rightward, the economy's
A) natural unemployment rate rises.
B) natural unemployment rate falls.
C) Natural Real GDP declines.
D) physical PPF shifts leftward.
E) physical PPF shifts rightward.
B
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Assortative mating results in
A) many people being able to marry their way out of poverty. B) wealth becoming more concentrated among families. C) the Lorenz curve moving rightward closer to the line of equality. D) people marrying at a later age.
A public good has the quality of excludability but not the quality of depletability
a. True b. False Indicate whether the statement is true or false
Last year, the real per capita GDP of Country A was $32,000 and that of Country B was $25,000. Based on this information, what can we conclude about the standard of living for a typical inhabitant in each of these countries?
a. The standards of living for the typical inhabitants of these two countries cannot be determined without more data. b. The standards of living for the typical inhabitants of these two countries are roughly equivalent. c. A typical inhabitant of Country B has a higher standard of living than a typical inhabitant of Country A. d. A typical inhabitant of Country A has a higher standard of living than a typical inhabitant of Country B.
According to the Taylor rule, if inflation equals 3 percent and there is an expansionary gap equal to 3 percent of potential output, the Fed will set a real interest rate of ________ percent and a nominal interest rate of ________ percent.
A. 1; 4 B. 4; 7 C. 4; 6 D. 1; 3