The gap between real GDP per person in Africa and real GDP per person in the United States has been
A) increasing.
B) decreasing.
C) remaining fairly constant.
D) there is no gap in real GDP per person between Africa and the United States.
A
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Persistently expansionary monetary policy that stimulates aggregate demand and leads to inflation will
a. lead to higher rates of real output in the long run. b. fail to increase real output once decision makers fully anticipate the inflation. c. lead to lower nominal interest rates once decision makers fully anticipate the inflation. d. permanently reduce the rate of unemployment below its natural rate.
According to the availability heuristic, which of the following will make Katie more likely believe that she will win a lot of money if she buys a lottery ticket?
A. The fact that it has been several years since she purchased a lottery ticket B. The fact that is has been several years since anyone has won the lottery C. Her boss hinting that she will soon receive a raise at work D. Watching a news report about someone winning 2 million dollars playing the lottery
When the government raises revenue by printing money, it imposes an "inflation tax" because the:
A. real value of money holdings falls. B. interest rate falls. C. difference between nominal and real interest rates becomes smaller. D. nominal value of money holdings falls.
If people expect the price of packaged coffee to rise next week, coffee demand will:
A. decrease now. B. increase now. C. stay the same now and increase next week. D. stay the same now and decrease next week.