$500 invested at an annual interest rate of 8 percent will be worth how much at the end of one year?

The long-run Phillips curve represents the relationship between the inflation rate and the unemployment rate when there is no ________ unemployment

A) cyclical B) frictional C) seasonal D) structural E) natural

Does the experience of World War II demonstrate that government budget deficits and surpluses can be used to stabilize aggregate demand?

A) No, because the deficits run during the 1930s did not end the recession. B) No, because the fact that deficits or surpluses can alter aggregate demand does not prove they can stabilize it. C) Yes, because nominal GDP increased by more than the amount of the deficit in each wartime year. D) Yes, because World War II demonstrated the multiplier effect of deficits.