Deflation is: low prices. a slowing of the inflation rate. a sustained decrease in the general level of prices. none of the above.
IncorrectQuestion 2
0 / 1 pts
An economy experiences inflation when: prices are high. prices are increasing. the purchasing power of money is high. the purchasing power of money is increasing.
Question 3
1 / 1 pts
A country where there are extremely rapid increases in the general level of prices is experiencing: stagflation. hyperinflation. / political inflation. structural inflation.
IncorrectQuestion 4
0 / 1 pts
Disinflation is a: decrease in real income. decrease in the rate of inflation. sustained decrease in the general level of prices. sustained decrease in an economy's level of output.
IncorrectQuestion 5
0 / 1 pts
A person who quits a job in Los Angeles to look for work in Chicago is: not unemployed. cyclically unemployed. frictionally unemployed. structurally unemployed.
Question 6
1 / 1 pts
When prices increase, real income: increases. decreases. / is unaffected. becomes a poor measure of purchasing power.
Question 7
1 / 1 pts
Which of the following types of unemployment is voluntary, where the person chooses to leave their job? Cyclical unemployment. Frictional unemployment. / Structural unemployment. None of the above.
Question 8
1 / 1 pts
The real rate of interest is: the nominal rate of interest plus the inflation rate. the nominal rate of interest minus the inflation rate. / the inflation rate divided by the nominal rate of interest. this year's nominal rate of interest minus last year's nominal rate of interest.
Question 9
1 / 1 pts
The dollar figure that measures the value of all finished goods and services produced in the economy in one year is: national income. gross