The inflation rate can be obtained by ________
A) dividing the nominal GDP by the GDP deflator
B) subtracting the real GDP from the nominal GDP
C) multiplying the CPI by GDP
D) subtracting the growth in real GDP from the growth in nominal GDP
E) none of the above
D
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The government redistributes funds via transfer payments in order to ________
A) reduce the number of private transactions B) increase competition among domestic producers C) finance the operation of its various departments D) reduce inequality among the citizens
Which of the following is true?
A) MSB = MB + Marginal external benefit. B) MB = Marginal external benefit - MSB. C) MB = Marginal external benefit + MSC. D) MSB = Marginal external cost - marginal external benefit. E) MSB = MB + Marginal external benefit - Marginal external cost.
The number of U.S. workers in unions today is:
A. roughly equivalent to what it was in the 1950s. B. about 13%of all wage and salary workers. C. just under 15 million Americans. D. not something we can estimate due to the lack of information on all people in the labor market.