"economics"exercise:Stagflation

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來(lái)源: 正保會(huì)計(jì)網(wǎng)校編輯：小鞠橘桔 2020/12/23 09:58:59　字體：大小

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Questions 1:

Stagflation is best described as an economic situation involving high inflation and high:

A 、economic growth.

B、 aggregate supply.

C 、unemployment.

Questions 2:

Assume that the nominal spot exchange rate (USD/EUR) increases by 7.5%, the eurozone price level decreases by 4%, and the US price level increases by 2.5%. The change in the real exchange rate (%) is closest to:

A、 0.7%.

B、 –6.3%.

C、 14.8%.

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. Declines in short-run aggregate supply bring about stagflation, an economic situation with a combination of high inflation and high unemployment.

A is incorrect. Stagflation, an economic situation with a combination of high inflation and high unemployment, will put downward pressure on GDP growth (low economic growth).

B is incorrect. Declines in short-run aggregate supply bring about stagflation.

【Answer to question 2】A

【analysis】

A is correct.

economics exercise:Stagflation

B is incorrect because the change in the nominal exchange rate is not included: (1 – 4%)/(1 + 2.5%) – 1= –6.3%.

C is incorrect because the change in the price levels are inverted: [(1 + 7.5%) × (1 + 2.5%)[/(1 – 4%) – 1= 14.8%.

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