The recession that began in the United States in 2007
What will be an ideal response?
was the most severe and long-lasting since the Great Depression of the 1930s. Even after the economy started to recover, growth was slow and job creation weak, with unemployment remaining over 7 percent through 2013.
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The headline in the local paper today is "College tuition next fall will be raised by 3 percent." This statement is an example of
A) a normative statement. B) a positive statement. C) a macroeconomic statement. D) ceteris paribus.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Which of the followings does NOT describe the goods market in the ISLM model?
A) consumption function B) investment function C) government spending and tax D) money demand function
Assume that the following are the predicted inflation rates in these countries for the year: 2% for the United States, 3% for Canada; 4% for Mexico, and 5% for Brazil
According to the purchasing power parity and everything else held constant, which of the following would we expect to happen? A) The Brazilian real will depreciate against the U.S. dollar. B) The Mexican peso will depreciate against the Brazilian real. C) The Canadian dollar will depreciate against the Mexican peso. D) The U.S. dollar will depreciate against the Canadian dollar.