國立嘉義大學九十七學年度
... C) Bank of America paying you 3 percent on your saving account. D) You saving your spare change in a jar before depositing them in your savings account. (22) An increase in the Japanese interest rate will ________ the demand for dollars and lead the dollar to ________. A) increase; appreciate B) inc ...
... C) Bank of America paying you 3 percent on your saving account. D) You saving your spare change in a jar before depositing them in your savings account. (22) An increase in the Japanese interest rate will ________ the demand for dollars and lead the dollar to ________. A) increase; appreciate B) inc ...
Chapter 8
... Growth is an important economic goal because it means more material abundance and ability to meet the economizing problem. Expansion of output relative to population results in rising real wages and incomes and thus higher standards of living. A growing economy is better able to meet people’s wants ...
... Growth is an important economic goal because it means more material abundance and ability to meet the economizing problem. Expansion of output relative to population results in rising real wages and incomes and thus higher standards of living. A growing economy is better able to meet people’s wants ...
questions to the Lecture 5
... 4. Define monetary aggregate M1. Would you say it satisfies all functions of money? 5. Define monetary aggregate M3. Would you say it satisfies all functions of money? 6. What are the reserves? What is their role in the regulation of money supply in the economy? 7. How can banks create money? – expl ...
... 4. Define monetary aggregate M1. Would you say it satisfies all functions of money? 5. Define monetary aggregate M3. Would you say it satisfies all functions of money? 6. What are the reserves? What is their role in the regulation of money supply in the economy? 7. How can banks create money? – expl ...
inflation.
... 2. Signed union contracts agreeing to 3% raises for next 3 years. (A $30,000 salary would increase to $32,782 but it would take $51,840 to buy what $30,000 would buy 3 years before) 3. Signed union contracts agreeing to COLAs for next 3 years. (So a $30,000 salary of 3 years ago would now pay $51,84 ...
... 2. Signed union contracts agreeing to 3% raises for next 3 years. (A $30,000 salary would increase to $32,782 but it would take $51,840 to buy what $30,000 would buy 3 years before) 3. Signed union contracts agreeing to COLAs for next 3 years. (So a $30,000 salary of 3 years ago would now pay $51,84 ...
ECON4110 Sample Final Exam MULTIPLE CHOICE. Choose the
... 17) An increase in the expected price level A) results in a movement along the short-run aggregate supply curve, rather than a shift in the short-run aggregate supply curve. B) shifts the short-run aggregate supply curve down and to the right. C) shifts the short-run aggregate supply curve up and t ...
... 17) An increase in the expected price level A) results in a movement along the short-run aggregate supply curve, rather than a shift in the short-run aggregate supply curve. B) shifts the short-run aggregate supply curve down and to the right. C) shifts the short-run aggregate supply curve up and t ...
Topic 1: Introduction to Economics 1 (The Price System)
... rises, the economy’s demand for money rises and so, assuming that the supply of real balances is fixed, the interest rate r begins to rise. As r rises, I falls thus partially offsetting the effects of the increased government ...
... rises, the economy’s demand for money rises and so, assuming that the supply of real balances is fixed, the interest rate r begins to rise. As r rises, I falls thus partially offsetting the effects of the increased government ...
AP MACRO EXAM REVIEW SHEET ANSWERS
... Nominal wages and other input prices remain constant (fixed) as the price level changes. Workers may not realize that their real wages have changed due to inflation (or deflation) and therefore have not adjusted their labor supply and wage decisions. Workers hired under fixed wage contracts ar ...
... Nominal wages and other input prices remain constant (fixed) as the price level changes. Workers may not realize that their real wages have changed due to inflation (or deflation) and therefore have not adjusted their labor supply and wage decisions. Workers hired under fixed wage contracts ar ...
A Bit Longer Principles Review
... inflation will continue at 3% Curve I. • Then Fed hypes inflation to 6% unemployment falls to 3% (Point 2 on Curve I). ...
... inflation will continue at 3% Curve I. • Then Fed hypes inflation to 6% unemployment falls to 3% (Point 2 on Curve I). ...
Inflation Cycles
... occurred in the United States during the 1970s when the Fed responded to the OPEC oil price rise by increasing the quantity of money. © 2012 Pearson Education ...
... occurred in the United States during the 1970s when the Fed responded to the OPEC oil price rise by increasing the quantity of money. © 2012 Pearson Education ...
CFO11e_ch29
... the view that wages respond quickly to price changes. In the absence of sticky wages, the AS curve will be vertical. In this case, monetary and fiscal policy will have no effect on real output. Indeed, in this view, there is no unemployment problem to be solved! ...
... the view that wages respond quickly to price changes. In the absence of sticky wages, the AS curve will be vertical. In this case, monetary and fiscal policy will have no effect on real output. Indeed, in this view, there is no unemployment problem to be solved! ...
Circular Flow
... structural factors. – Also called the NAIRU (Nonaccelerating Inflation Rate of Unemployment) -- ~5% for US economy ...
... structural factors. – Also called the NAIRU (Nonaccelerating Inflation Rate of Unemployment) -- ~5% for US economy ...
QUIZ 2: Macro – Winter 2002 - The University of Chicago Booth
... For the entire quiz, make the following assumptions. (1) All consumers are non-liquidity constrained, non-ricardian PIH, (2) Prices are held fixed unless told otherwise, (3) expected inflation does not affect money demand (MD), (4) the capital stock (K) is fixed, (5) all exogenous variables (A, tax ...
... For the entire quiz, make the following assumptions. (1) All consumers are non-liquidity constrained, non-ricardian PIH, (2) Prices are held fixed unless told otherwise, (3) expected inflation does not affect money demand (MD), (4) the capital stock (K) is fixed, (5) all exogenous variables (A, tax ...
MISKOLCI EGYETEM 1998/99
... The first is compulsory, this has to written and passed in order to receive the signature (in case the student does not pass for the first try, he/she can try again at the second test date), those, who do not show up at any of the two possible test dates will be denied signature. The second test ...
... The first is compulsory, this has to written and passed in order to receive the signature (in case the student does not pass for the first try, he/she can try again at the second test date), those, who do not show up at any of the two possible test dates will be denied signature. The second test ...
Chapter 22 - The short-run treade-off between inflation and unemployment
... – Policymakers: Monetary and fiscal policy • To influence aggregate demand – Choose any point on Phillips curve – Trade-off: High unemployment and low inflation – Or low unemployment and high inflation ...
... – Policymakers: Monetary and fiscal policy • To influence aggregate demand – Choose any point on Phillips curve – Trade-off: High unemployment and low inflation – Or low unemployment and high inflation ...
Phillips curve
In economics, the Phillips curve is a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result in an economy. Stated simply, decreased unemployment, (i.e., increased levels of employment) in an economy will correlate with higher rates of inflation.While there is a short run tradeoff between unemployment and inflation, it has not been observed in the long run. In 1968, Milton Friedman asserted that the Phillips Curve was only applicable in the short-run and that in the long-run, inflationary policies will not decrease unemployment. Friedman then correctly predicted that, in the upcoming years after 1968, both inflation and unemployment would increase. The long-run Phillips Curve is now seen as a vertical line at the natural rate of unemployment, where the rate of inflation has no effect on unemployment. Accordingly, the Phillips curve is now seen as too simplistic, with the unemployment rate supplanted by more accurate predictors of inflation based on velocity of money supply measures such as the MZM (""money zero maturity"") velocity, which is affected by unemployment in the short but not the long term.