Everywhere to the left of the long-run Phillips Curve as in Figure 8-1 above: a.
ID: 1096767 • Letter: E
Question
Everywhere to the left of the long-run Phillips Curve as in Figure 8-1 above:
a. actual inflation is less than expected inflation and the expected inflation rate will be raised.
b. actual inflation is greater than expected inflation and the expected inflation rate will be reduced.
c. actual inflation is less than expected inflation and the expected inflation rate will be reduced.
d. actual inflation is greater than expected inflation and the expected inflation rate will be raised.
The principle of compound interest insures that:
a small difference in the per capita GDP growth rate between countries in one year will grow to a large difference in the long run.
b. U.S. interests are compounded by the interests of Great Britain and Germany.
U.S. interests are compounded by the interests of all other countries.
d. a small difference in the per capita GDP between countries in one year will grow to a large difference in the long run
Suppose an individual sells $500 worth of securities to the Fed and puts the proceeds of this sale under his mattress. Then: (select one),
the money supply will rise by $500.
the money supply will be unaffected.
the supply of high-powered money will rise by $500 but nothing will happen to the money supply.
demand deposits will rise by some multiple of $500, depending on the bank reserve-holding ratio.
From an initial situation where P = 1.00 and Y = 100, 6 percent nominal GDP growth that causes P to go to 1.02 also causes Y to go to (Select one)
103.
112.
98.
104.
.
a. actual inflation is less than expected inflation and the expected inflation rate will be raised.
b. actual inflation is greater than expected inflation and the expected inflation rate will be reduced.
c. actual inflation is less than expected inflation and the expected inflation rate will be reduced.
d. actual inflation is greater than expected inflation and the expected inflation rate will be raised.
The principle of compound interest insures that:
a.a small difference in the per capita GDP growth rate between countries in one year will grow to a large difference in the long run.
b. U.S. interests are compounded by the interests of Great Britain and Germany.
c.U.S. interests are compounded by the interests of all other countries.
.d. a small difference in the per capita GDP between countries in one year will grow to a large difference in the long run
Suppose an individual sells $500 worth of securities to the Fed and puts the proceeds of this sale under his mattress. Then: (select one),
the money supply will rise by $500.
the money supply will be unaffected.
the supply of high-powered money will rise by $500 but nothing will happen to the money supply.
demand deposits will rise by some multiple of $500, depending on the bank reserve-holding ratio.
From an initial situation where P = 1.00 and Y = 100, 6 percent nominal GDP growth that causes P to go to 1.02 also causes Y to go to (Select one)
103.
112.
98.
104.
.
Explanation / Answer
1.
Figure 8-1 missing
2.
a. A small difference in the per capita GDP growth rate between countries in one year will grow to a large difference in the long run.
3.
The money supply will be unaffected.
4.
d. 104 (i.e. (100+6)/1.02)
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