The Table Below Shows Data for Five Economies of Similar

question 141

Multiple Choice

The table below shows data for five economies of similar size.Real GDP is measured in billions of dollars.Assume that potential output for each economy is $340 billion. TABLE 24-1 Refer to Table 24-1.How is the adjustment asymmetry demonstrated when comparing Economy A to Economy E?

• A)The size of the output gap is the same in Economies A and E,but wages are rising in A and falling in E.
• B)The output gap is larger in Economy A,yet wages are changing more slowly.
• C)The output gap is much larger in Economy E,so wages are changing at a faster rate.
• D)The size of the output gap is the same in Economies A and E but wages are falling more slowly in A than they are rising in E.
• E)There is insufficient data with which to observe the adjustment asymmetry.

Grasp the impact of technological innovations on the banking industry and the resultant shifts in customer interactions with banks.

Understand regulatory responses to financial crises and their intended effects on preventing future crises.

Understand the role and impact of creative project funding platforms like Kickstarter.

Recognize the characteristics and functions of different financial institutions and services.

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Definitions:

Foramen Magnum

The opening in the vertebrate skull through which the spinal cord passes.

Arboreal

Living in trees.

Earliest Primates

The most ancient members of the primate order, believed to have appeared in the Paleocene epoch, characterized by adaptations for arboreal life.

Homo Erectus

Species that originated in Africa about 1.7 mya and then spread to Europe and Asia; may have persisted until 200,000 years ago or later; may be an evolutionary dead end.