In the United States, most often the ________ changes first, and the ________ follows.
A. GDP deflator; CPI
B. PPI; CPI
C. PCE; CPI
D. CPI; PPI
Answer: B
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The aggregate production function shows that an economy increases its real GDP in the short run by
A) developing new technologies. B) increasing its physical capital stock. C) using more labor. D) exploring for new deposits of natural resources.
Suppose that U.S. inflation is 3 percent and Turkish inflation is 70 percent. The effect of this discrepancy on the foreign exchange market is that
A) the Turkish currency will depreciate. B) the dollar will depreciate. C) it is impossible for interest rate parity to hold. D) the Turkish currency will appreciate.
A bank's liabilities are
A) included as part of the bank's reserves. B) things owned by or owed to the bank. C) things the bank owes to someone else. D) a measure of the bank's net losses.
Supply chain management refers to
A) the contracts put in place to manage a firm's suppliers. B) the decisions around which stages of production to handle internally and which to buy from others. C) how the firm compensates the employees who work on the firm's internal stages of production. D) the 19th century practice of having barges move downstream with the flow of the river.