Inflationary pressures increase when the economy moves:
A. down the short-run Phillips curve.
B. to the left of the long-run Phillips curve.
C. to the right of the long-run Phillips curve.
D. down the long-run Phillips curve.
Answer: B
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Because income differs so much by type of job, some economists argue that a new class distinction has emerged between:
A. workers and capitalists. B. salaried workers and the self-employed. C. union and nonunion workers. D. professionals and nonprofessionals.
Suppose that there is a current account deficit of $250 billion and a financial account surplus of $260 billion. It may be concluded that the
A) overall balance of payments is +10. B) overall balance of payments is -10. C) official reserve transaction account balance is +10. D) official reserve transaction account balance is -10.
If a dollar is initially valued at 10 Swiss francs and its value changes to 12 Swiss francs, then the value of a Swiss franc (in terms of dollars) has
A. increased only if the demand for Swiss francs has increased. B. remained the same. C. increased. D. decreased.
Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. As a result of an increase in investment by $20 million, aggregate expenditures shifts ________, ________ equilibrium output and equilibrium expenditure.
A. down; increasing B. down; not changing C. up; increasing D. down; decreasing