During the first three years of a recovery from a recession, productivity
a. usually rises relatively rapidly.
b. falls slowly.
c. is quite puzzling since it is usually unpredictable with respect to the directional change.
d. usually remains constant.
A
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If real GDP in year 1 is $72 million and real GDP in year 2 is $87 million, then the growth rate of real GDP is
A) 15 percent. B) $15 million. C) 20.8 percent. D) 17 percent. E) 83 percent.
A decrease in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point outside the frontier
Indicate whether the statement is true or false
Which of the following statements is always true when inflation occurs?
a. Lenders benefit and borrowers suffer. b. Borrowers benefit and lenders suffer. c. The international competitive position of the country is negatively affected. d. The domestic money loses purchasing power. e. None of the above is true.
Suppose you like to make, from scratch, pies filled with banana cream and vanilla pudding. You notice that the price of bananas has increased. As a result, your demand for vanilla pudding would
a. decrease. b. increase. c. be unaffected. d. There is insufficient information given to answer the question.