The late Hugo Chavez, Venezuela's former president, proposed that the independence of the Venezuelan central bank be eliminated
Given the research on the relationship between central bank independence and inflation, we should expect this event to cause inflation to ________ and the real exchange rate to ________ between the two counties. (Assume the nominal exchange does not change, and that the United States is the domestic country).
A) rise in Venezuela relative to the United States; fall
B) rise in Venezuela relative to the United States; rise
C) fall in Venezuela relative to the United States; fall
D) fall in Venezuela relative to the United States; rise
A
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The Hawaiian island of Lana'i is privately owned by Castle & Cooke and for generations most of its land was used to grow pineapples. Now, many of the pineapple fields have been replaced by tourist accommodations, including a pair of world-class hotels and a top rated golf course. What would an economist say about this change in land-use patterns?
A) While growing pineapples used the island's land more efficiently, tourism provides utility to the largest number of people. B) Economic rent has allocated the island's resources to their highest-valued use: tourism. C) Agriculture is still the land's highest-valued and most efficient use, but tourism earns more profits for Castle & Cooke. D) To find the land's economic rent, add the price per acre that land on Lana'i would be worth if used to grow pineapples to the value per acre when used for a golf course.
The intersection between demand of US dollar and the supply of US dollar is known as
a. Inflation rate b. Exchange rate c. Price d. Quantity
Refer to the information provided in Table 23.7 below to answer the question(s) that follow. Table 23.7
Refer to Table 23.7. At an aggregate output level of $400 billion, planned expenditure equals
A. $450 billion. B. $500 billion. C. $550 billion. D. $850 billion.
People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called
A) unemployed workers. B) discouraged workers. C) unhappy workers. D) involuntarily unemployed. E) part-time lookers.