The Friedman—Phelps analysis suggests that there is a long-term relationship between
A) inflation and unemployment.
B) cyclical inflation and structural unemployment.
C) unanticipated inflation and cyclical unemployment.
D) anticipated inflation and structural unemployment.
C
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Refer to Table 11.1. What is the value of the tax multiplier?
A) -0.67 B) -1.875 C) 2.33 D) 3
If the Japanese government enters the foreign exchange market and sells yen to maintain a specific exchange rate with the dollar, the dollar will ________ and the yen will ________
A) depreciate; depreciate B) depreciate; appreciate C) appreciate; depreciate D) appreciate; appreciate
Real GDP is important because it is highly correlated with other measures of economic activity.
Select whether the statement is true or false. A. True B. False
What is marginal utility? Why is the term "marginal" important in utility analysis?
What will be an ideal response?