What is a depreciation to one country must be an appreciation to the other.
Answer the following statement true (T) or false (F)
False
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The primary job of a bank is to act as an intermediary, taking in deposits from savers and then loaning that money to people who want to borrow
a. True b. False Indicate whether the statement is true or false
Which is most likely to cause a temporary spurt in the growth of GDP that cannot be maintained in the long run?
a. An unanticipated increase in aggregate demand. b. An anticipated increase in aggregate demand. c. An increase in long run aggregate supply (LRAS). d. An increase in wage rates
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
An example of someone who irrationally considers sunk costs when making a decision is most likely:
A. someone who paid $50 for a ticket to a baseball game and ends up sitting through the entire game in the freezing rain without a jacket. B. a family that pays $20 to enter a state park for the day and stays all day. C. someone who paid $50 for a ticket to a baseball game and ends up sitting through the entire game enjoying himself. D. a family that pays $20 to enter a state park for the day and leaves after an hour.