"economics"exercise:Stagflation

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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