In 2009, ___________ exceeded Germany in value of exports becoming the world's largest exporter.

Along a short-run Phillips curve when the inflation rate rises,

A) the real wage rate falls and more labor is hired. B) the expected inflation rate falls. C) the expected inflation rate rises. D) the money wage rate falls because the labor market becomes less tight. E) potential GDP decreases.

According to rational expectations, expectations will only change in the event that ________

A) wealth changes B) current income changes C) permanent income changes D) unanticipated new information arises