A
B
C
D
E
A
B
C
D
E
A
B
C
D
E
Which deal listed here is mutually beneficial for both countries to specialize and trade?
1 wheat for 0.25 cloth
1 cloth for 5 wheat
1.8 wheat for 0.4 cloth
1 cloth for 1.5 wheat
1 wheat for 3 cloth
Calculate the Gross National Product
Calculate the Exports
Calculate the Personal Income
How many people are unemployed due to the bad economic environment?
Which of these people are considered to be in the Labor Force?
Melinda is now old and retired three years ago from her nursing job.
John used to work in the bank. He lost his job and gave up looking for work.
Construction workers are refusing to go to work until their company give them better working conditions.
Sarah has been in prison for the last five years for trying to bribe her economics teacher to get a higher grade.
Peter has been in lying unconscious in the hospital for a year after a terrible motor cycle accident.
If the CPI goes to 150 from 120, then price level has
risen by 20 percent.
risen by 25 percent.
fallen by 20 percent.
risen by 30 percent.
fallen by 30 percent
When the GDP Deflator of the previous year is greater than that of the current year, the country is experiencing
Inflation
Deflation
Disinflation
Expansion
Stagflation
When products improve in quality, CPI
automatically increase
automatically decrease
becomes negative
underestimates the inflation rate
should reflect the increase in purchasing power but it does not
When the conutry has a recessionary gap
the PPC will show the production levels at the point outside the PPC.
the actual output is greater than potential output.
real GDP will be decreasing over time.
the inflation rate will be lower than expected.
the unemployment rate will be the same as the natural rate of unemployment.
A government can best reduce structural unemployment by
offering job training programs.
lowering tax rates.
increasing imports.
increasing government spending.
expanding the money supply.