In a debate on the state of the economy Senator X pointed out that the unemployment rates for teenagers, blacks, and hispanics had increased over the last year, while Senator Y stated that the unemployment rate in the United States was at its lowest level in more than 30 years. In this example, aggregate data is being used by:
A. both senators.
B. Senator X.
C. neither senators.
D. Senator Y.
Answer: D
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Along any IS curve
a. both government spending and expectations are fixed. b. government spending and the price level may vary. c. consumption and the price level are fixed. d. both government spending and tax rates may vary. e. all of the above
If purchasing-power parity holds, a dollar will buy
a. one unit of each foreign currency. b. foreign currency equal to the U.S. price level divided by the foreign country's price level. c. enough foreign currency to buy as many goods as it does in the United States. d. None of the above is implied by purchasing-power parity.
You are a collector of baseball cards. In 2018, you purchase a Madison Baumgartner baseball card printed in 2012. This baseball card
A. is included in the 2012 GDP. B. is in the 2012 and 2018 GDP. C. excluded from the 2012 GDP. D. included in the 2018 GDP.
If a country's currency appreciates, the country will experience a ________ in exports and a ________ in imports.
A. rise; rise B. fall; fall C. rise; fall D. fall; rise