Which of the following will most likely result from an unanticipated decrease in aggregate supply due to unfavorable weather conditions in agricultural areas?
a. a decrease in inflation
b. a decrease in unemployment
c. an increase in the general level of prices
d. an increase in the natural rate of unemployment
C
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Which of the following is true of tariffs?
A) Tariffs are special taxes levied on imports. B) Tariffs reduce the volume of exports. C) Tariffs decrease the prices of imports. D) Tariffs encourage international trade.
When tariffs on exports are eliminated, there is at least in principle a way for everyone to benefit.
Answer the following statement true (T) or false (F)
The inflation rate can be calculated as the percentage change in:
A. real GDP. B. the CPI. C. the exchange rate. D. nominal GDP.
The average outcome from an uncertain gamble is the _______________
Fill in the blank(s) with the appropriate word(s).