(Repeat your answer on Scantron line 28.) Unlike an increase in the "quantity demanded" of a good, an increase in demand for a good

(Repeat your answer on Scantron line 29.) By the definition given in lecture, a model is

(Repeat your answer on Scantron lines 30 and 31.) An example of "derived demand" is,

(Repeat your answer on Scantron lines 32 and 33.) Refer to the table above. What is the economy's GDP?

In a hyperinflation:

(Repeat your answer on Scantron line 34.) The GDP deflator gives the average rate of change in the prices of all:

(Repeat your answer on Scantron line 35.) If 2000 is the base year, then the price index in that year:

Which of the following statements regarding inflation is incorrect?

(Repeat your answer on Scantron line 36.) Use the following table to calculate the unemployment rate. Select the correct answer from the options below.

In the late 1990s, unemployment fell in Europe as the European economies grew more rapidly than their labor forces. Which type of unemployment was most likely reduced in this case?

(Repeat your answer on Scantron line 37.) Choose the best answer. According to the text, which of the following major countries made it onto the list of the top ten least corrupt countries in the year 2000

Which of the following statements most accurately reflects the information given in the text? The typical worker in the United States has over __________ worth of physical capital, while the average worker in India has less than __________.

A potential problem with expansionary monetary policy is that banks can:

A significant reduction in the rate of inflation is called:

The disinflation of the 1980s was accompanied by:

(Repeat your answer on Scantron line 38.) Who is Ben Bernanke?

Higher unemployment benefits tend to:

The average number of times a dollar is spent on final goods and services during a year is:

Why could very high rates of inflation cause velocity to increase?

(Repeat your answer on Scantron lines 39 and 40.) Which of these statements is correct?
I. If your nominal wages rise at a rate higher than the inflation rate, you have received a “real” pay raise.
II. If your nominal wages rise at exactly the rate of inflation, your purchasing power over time remains constant.
III. If your nominal wages rise at 4% while prices rise 5%, you have essentially received a “pay cut.”

(Repeat your answer on Scantron lines 41 and 42.) Examples of expansionary fiscal policy include increases:
I. in government spending.
II. in income taxes.
III. of the money supply.

Patents allow a firm to enjoy a monopoly, thus increasing the incentive to

(Repeat your answer on Scantron lines 43 and 44.) Assume the Keynesian multiplier is 2 and remains stable, also the marginal propensity to consume is .9. Now state and local governments reduce property taxes by $100 billion. What will happen to GDP?

(Repeat your answer on Scantron lines 45 and 46.) If the Fed buys Treasury bills from an insurance company, this will

(Repeat your answer on Scantron lines 47 and 48.) In the money supply equation just above, if the "money multiplier" is .60, then if the Fed sells $3 billion of Treasury bonds, the money supply will:

(Repeat your answer on Scantron line 49.) If the price of clothing (which accounts for 5% of total expenditures in the CPI basket), rises by 30% in one year while the prices of all other goods remain constant, by how much will the CPI rise?

(Repeat your answer on Scantron line 50.) Tricky. Suppose that between 1999 and 2000, nominal GDP rose by 10%, inflation was 10%, and average product quality increased by 5%. From this we can infer that: