In macroeconomics, which of the following topics would most likely be studied?
A. The growth rate of the oil industry
B. Bob's budget
C. Unemployment in Mexico.
D. Nike's costs of production
Answer: C
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If aggregate demand decreases and neither short-run nor long-run aggregate supply changes, then
A) the price level increases in the short-run and decreases in the long run. B) there is an inflationary gap. C) there is a recessionary gap. D) in the long run, the long-run aggregate supply will decrease.
In the basic closed-economy ISLM model, the IS curve can be described by an equation where
A) output is a function of consumption. B) money is a function of interest rates. C) output is a function of money. D) output is a function of interest rates.
In 2007, foreigners hold about _____ percent of the national debt
a. 25 b. 40 c. 10 d. 3 e. 75
In the example of the peg between Britain and Germany, what would have been the case if Britain had allowed the pound to float and depreciate after Germany's GDP rise?
A) Britain would have suffered depreciation and a recession. B) Britain would have had to raise interest rates. C) Britain would no longer be eligible to join the new euro currency. D) Britain could have lowered interest rates and enjoyed an added boost to GDP.