Other things the same, in the long run a country that reduces the minimum wage from very high levels will have
a. higher unemployment and lower inflation
b. lower unemployment and higher inflation
c. higher unemployment and the same level of inflation
d. lower unemployment and the same level of inflation
d
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What factor probably contributes most to economic growth?
A) Money B) Political influence C) Foreign aid and investment D) The exploitation of poor countries by rich countries E) Productive knowledge
As firms' expected profit from new capital projects falls,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) projects must become more profitable
Assume you borrow funds to buy a new car at 10 percent interest and you think that the economy-wide rate of inflation over the life of the loan will be 8 percent
If you are correct in your assumption, your real rate of interest on the car loan will be A) 2 percent. B) 8 percent. C) 10 percent. D) 18 percent.
Which of the following was not true of the First and Second Banks of the United States?
a. They had branches throughout the country. b. They issued paper money. c. They made loans to private individuals. d. They set the bimetallic ratio.