The ________, the ________ is the quantity of real GDP supplied and the ________ is the quantity of real GDP demanded
A) lower the price level; greater; smaller
B) lower aggregate demand; greater; smaller
C) higher the price level; greater; smaller
D) lower the supply of labor; greater; smaller
E) greater the demand for labor; smaller; greater
C
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Globalization and growing technology have produced
A) more opportunities for low-skilled labor than for high-skilled labor. B) equal opportunities for low-skilled and high-skilled labor. C) outsized, exponential rewards for superstar talent. D) rewards for labor that have reduced income inequality.
If two interdependent economies work independently pursuing the best interests of their own economies
A) both countries can end up worse than they planned because of international externalities. B) they will make other economies more vulnerable to international externalities. C) they will have to sacrifice their monetary autonomy to achieve their goals. D) both countries can end up worse than they planned because of the liquidity effect.
Which of the following countries has lower income mobility than the United States?
A. Both of these countries have lower income mobility than the United States. B. Germany C. Neither of these countries have lower income mobility than the United States. D. United Kingdom
The German Hyperinflation of the early 1920s was caused by
A) large deficits resulting from the high levels of war spending and falling taxes. B) rising oil prices after World War I caused a severe stagflation and hyperinflation. C) an overly aggressive monetary policy implemented to combat a severe recession. D) the German government raising funds for expenditures by selling bonds to the central bank.