The shift toward more open, integrated economies that participate in foreign trade and investment is referred to as:

If you believe that velocity is constant and that the aggregate supply curve is horizontal, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of the

A. price level and real output. B. price level. C. price level and no change in real output. D. real output.

If there is 3 percent frictional unemployment, 4 percent structural unemployment, and ?2 percent cyclical unemployment, then the natural rate of unemployment equals:

A. 1 percent. B. 7 percent. C. 2 percent. D. 5 percent.