Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany is included
a. in both German GDP and U.S. GDP.
b. in German GDP, but is not included in U.S. GDP.
c. in U.S. GDP, but is not included in German GDP.
d. in neither German GDP nor U.S. GDP.
b
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If workers and firms lower their inflation expectations
A) actual inflation will fall to match expected inflation. B) unemployment will rise. C) the short-run Phillips curve will be vertical. D) the short-run Phillips curve will shift downward.
Refer to the accompanying figure. Growing 1,000 bushels of wheat and no bushels of corn each year is:
A. inefficient but attainable. B. efficient and attainable. C. inefficient and unattainable. D. efficient but unattainable.
The recent increases in international trade and new technology have caused demand for ______ workers to ______.
a. all types of; decrease b. low-skilled; increase c. highly-skilled; increase d. all types of; remain constant
Using the Rule of 72, how long will it take something growing at 1% per year to double?
A. 720 years B. 50 years C. 72 years D. 100 years