If Country A and Country B have the same population size, then the standard of living in these two countries can still be different depending on:
A. their respective political systems
B. their relative geographic size
C. the relative sizes of total output
D. their respective inflation rates
Answer: C
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Suppose the actual federal funds rate is below the rate implied by a particular inflation goal. In this situation, the Taylor rule implies that
A) monetary policy is expansionary. B) monetary policy is contractionary. C) monetary policy is neither expansionary or contractionary. D) fiscal policy is contractionary.
Without trade, a country's consumption possibilities are
A. Greater than with trade. B. More than its terms of trade. C. Limited to its domestic production possibilities. D. Less than its trade balance.
A specific type of loan that is used to buy real estate:
a. mutual fund b. mortgage c. millage note d. deed bond
How will an increase in the level of human capital, ceteris paribus, affect an economy's production possibilities curve?
A. Result in a movement along the curve. B. Result in a movement from inside the curve to a point on the curve. C. Shift the curve inward. D. Shift the curve outward.