Macroeconomics Quiz CH 7

Macroeconomics Quiz CH 7 - Macro Ch.7 The value of a unit...

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Macro Ch.7 The value of a unit of money, such as the dollar, always varies A) inversely with the average price of gold and silver. B) directly with the price of gold. C) inversely with the price of gold. D) inversely with the average level of prices. Correct Answer(s): D 2. The CPI is a useful index for all of the following reasons except A) it used to measure the average price level of all final goods and services produced. B) it is used to measure changes in the cost of living. C) it is used to compute the U.S. inflation rate. D) it is used to determine whether people's incomes are keeping up with the costs of the things they buy. Correct Answer(s): A 3. Which of the following is a source of frictional unemployment? A) a downturn in economic activity B) the time it takes to search for jobs that best matches one's skills C) discrimination in the labor market D) outsourcing Correct Answer(s): B 4.
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The trough of the business cycle A) comes right after the expansion phase.
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Macroeconomics Quiz CH 7 - Macro Ch.7 The value of a unit...

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