After falling form a peak of 138.1 million in January 2008 to a trough of 129.9 million in September 2010, employment in the U.S. economy:
A. just reached its January 2008 peak in April 2013.
B. had only recovered to 135.5 million by April 2013.
C. recovered for a year, only to decline further by April 2013.
D. rose to over 140 million by April 2013.
B. had only recovered to 135.5 million by April 2013.
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Why has the IMF come in for widespread criticism for its handling of the Asian financial crisis?
A) It refused to make loans to any of the countries whose currencies were under speculative attack. B) Its policies did not sufficiently punish speculators with losses, giving rise to moral hazard. C) Its policies led to unsustainably low interest rates in a number of Asian countries. D) Its policies failed to lead to sufficient hardship for citizens in a number of Asian countries, giving rise to moral hazard.
Nominal GDP is $10,000 billion in 2011, but real GDP is only $9,000. It follows that:
a. the GDP deflator is equal to 111 b. the GDP deflator is equal to 100. c. the GDP deflator is equal to 90. d. prices must have decreased relative to the base year.