Some economists believe that the Asian crisis in 1997
A) could have been avoided if stronger action had been taken by major countries and international agencies.
B) was inevitable since most of the economies were experiencing slow economic growth.
C) was made worse by the refusal of the IMF to take any actions.
D) was necessary to rid those economies of inflation.
A
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Gasoline prices typically increase in March and October because of required maintenance at refineries. For this reason, it is best to
A. focus on April/November decreases. B. seasonally adjust the data. C. politically adjust the data. D. focus on March/October increases.