In the graph showing an increase in aggregate demand, a drop of 3 percentage points in unemployment corresponds with ______.
a. a decrease in aggregate demand
b. a price level increase of 4
c. an increase in RGDP of $4 trillion
d. a decrease in RGDP of $19 trillion
b. a price level increase of 4
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The portion of a government's indebtedness owed to foreigners is
A. external debt. B. internal debt. C. not recoverable. D. net debt.
Which one of the following unexpected events ignited the 2009 euro crisis?
A) Accelerating hyperinflation and political upheaval. B) The prospect of a sovereign default by one or more euro zone countries. C) Rising oil prices. D) Revolutions in Switzerland and Belgium. E) A Chinese boycott of European products.
Which of the following countries does NOT use the U.S. dollar as its official currency?
A) Panama B) El Salvador C) Ecuador D) Guatemala
A result of welfare economics is that the equilibrium price of a product is considered to be the best price because it
a. maximizes both the total revenue for firms and the quantity supplied of the product. b. maximizes the combined welfare of buyers and sellers. c. minimizes costs and maximizes output. d. minimizes the level of welfare payments.