Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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If the Consumer Price Index was 170 in one year and 180 in the next year, then the rate of inflation from one year to the next was approximately:
A. 7.2 percent. B. 6.3 percent. C. 5.5 percent. D. 5.9 percent.
A retail store cuts the prices of the products it sells to force its competitor to leave the market. This is prohibited by the
A) Sherman Act. B) Robinson-Patman Act. C) Aldrich Act. D) FTC Act.
Japan experienced periods of deflation—a declining price level—during the 1990s. During a deflationary period, which would be higher: nominal GDP or real GDP? Why? Assume that the base year of choice is prior to the deflationary period
What will be an ideal response?
The crowding out effect of expansionary fiscal policy when the money supply is not increased is confirmed by
A) the Keynesian econometric models only. B) the Monetarist models only. C) both the monetarist and Keynesian econometric models. D) neither the Monetarist nor the Keynesian econometric models.