Exam 32: Inflation

When the prices of food and gasoline are added to core inflation,we get:

If an economy produces 3,000 units of output with a price level of $2 and the money supply (M)is $2,000,velocity is:

Demand pull inflation occurs when:

The NAIRU:

If the Fed were to push unemployment below NAIRU,it is likely that:

The velocity of money is:

The total amount of output a country could reasonably produce if all of its people and capital resources were fully engaged is called:

When the Fed conducts expansionary monetary policy,it __________ in the short run,but __________ in the long run.

Core inflation is:

Being penalized via taxes for making more money in dollars even though your purchasing power hasn't changed at all is called:

The real interest rate is:

Cost pull inflation occurs when:

If an economy has a money supply of $200,a velocity of 12,and a price level of $2,the output level must be:

Headline inflation:

If the nominal interest rate is the same as the real interest rate,then inflation must be:

If the nominal interest rate is higher than the inflation rate,the value of your savings:

The quantity theory of money relies on which variable to remain constant?

The short-run Phillips Curve is _________,and the long-run Phillips Curve is ________.

Conducting expansionary monetary policy when the economy is at its long-run equilibrium causes the Phillips Curve:

If an economy produces 1,000 units of output with a price level of $5 and the money supply (M)is $1,000,velocity is: