Blog

(03.08 LC) The policy actions taken by the government in discretion do not have much impact on the economy. Which of the following are potential weaknesses of discretionary fiscal policies?

(02.07 MC) A country’s unemployment rate is extraordinarily low and inflation is beginning to rise sharply. Its real GDP growth is still positive but has started to slow down. Which point of the business cycle best describes this economy?

(02.06 MC) Use the data table to answer the question that follows. Year Nominal GDP GDP Deflator 2000 $100 billion 80 2001 $117 billion 90 2002 $135 billion 100 2003 $200 billion 160 2004 $225 billion 250 In which year was real gross domestic product the greatest?

(02.01 HC) Use the table to answer the question that follows. Wages received by employees $15 trillion Bonuses received by employees $6 trillion Rent on land $12 trillion Dividends earned by stockholders $8 trillion Profits earned by firms $19 trillion Interest received on capital $7 trillion Net income from abroad $13 trillion Calculate the GDP of the country according to the income approach.

(02.04 MC) Which of the following is true about the consumer price index (CPI) as an economic indicator?

(02.05 LC) Which of the following scenario shows the cost of unexpected deflation?

  (03.03 MC) Which one of the following events will explain the leftward shift of the short-run supply curve?

(01.06 MC) If it is assumed that the market for good Z is in equilibrium and Z is an inferior good, what will be the result following an increase in the average income of consumers?

(02.01 MC) Which of the following goods would be directly counted as part of a country’s GDP?

(02.04 MC) A consumer price index going from 140 in year 1 to 130 in year 2 means the economy is experiencing