By definition, currency depreciation occurs when the value of

During a recession, cyclical unemployment ________ and real GDP ________.

The most direct way in which money replaces barter is through its use as a

True or False. Suppose the Fed sets the required reserve ratio to r = 0% so that banks are not required to keep any amount of deposits. The money creation process will go on forever. Explain.

________ describes the connection between the level of unemployment and output. As unemployment rises 1% past the natural rate of unemployment, output falls by 2-3%.

The graph below shows the U.S. market for t-shirts. Suppose the world price is $5.00 per t-shirt. Alt Text – t-shirts The country [trade] [qtrade] t-shirts per year. Suppose a $2 tariff is imposed. As a result, the country [tariffeffect] [tariffq] t-shirts per year. The government collects [trevenue] million in tariff revenue.

The following questions are on monetary policy.

Suppose a firm pays efficiency wages, what will likely be the result? Select all that apply.

The table below shows data for the Consumer Price Index (CPI) for the United States. The base year is the period 1982-84. The inflation rate from 2017 to 2018 is _____ %. Round to two decimal places. CPI data Year CPI 2015 236 2016 241 2017 246 2018 255 2019 252 2020 230 2021 225

The table below shows data for the Consumer Price Index (CPI) for the United States. The base year is the period 1982-84. CPI data Year CPI 2015 310 2016 330 2017 335 2018 331 2019 359 2020 361 2021 368 Suppose nominal wages remain unchanged over the seven-year period in the table. From 2017 to 2018, the economy saw [direction] prices and a(n) [purchp] in purchasing power. This is due to [result].