If the British pound appreciates from $0.50 per pound to $0.75 per pound, the U.S. dollar depreciates from ________ per dollar to ________ per dollar
A) £2; £2.5
B) £2; £1.33
C) £2; £1.5
D) £2; £1.25
B
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The labor force is the sum of the working-age population and the number of unemployed people
Indicate whether the statement is true or false
The 2009 fiscal stimulus package did not work ________
A) in that the IS curve did not shift to the right B) because most of the intended increase in government spending took too long to kick in C) because the increase in government spending was not enough to offset the decline in autonomous expenditure D) all of the above E) none of the above
Suppose the reserve requirement ratio is 20 percent. Assuming no bank holds excess reserves and nobody withdraws cash, a $10,000 injection of new reserves by the Fed can create: a. $2,000 in new checkable deposits
b. $10,000 in new checkable deposits. c. $50,000 in new checkable deposits. d. $500,000 in new checkable deposits. e. $5,000 in cash.
Price indexes like the CPI are calculated using a base year. The term base year refers to:
A. the first year that price data are available. B. any year in which inflation was higher than 5 percent. C. the most recent year in which the business cycle hit the trough. D. an arbitrarily chosen reference year.