An economy that has no interaction with the rest of the world is called
A) an isolated economy.
B) a closed economy.
C) a parochial economy.
D) a rogue nation.
B
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Why might private investment in poor countries, rather than aid by foreign governments and international agencies, contribute more effectively to economic growth?
A) Private investment is more consistent with central economic planning. B) Technical assistance is often part of the private investment package. C) Private investment is always selfish. D) Private investors are smarter and more street-wise than public authorities.
An unexpected event that causes the aggregate demand curve to shift inward or outward is an
A) aggregate demand shock. B) aggregate supply shock. C) aggregate supply increase. D) aggregate supply decrease.
The unemployment rate equals the number of persons:
a. unemployed divided by the number employed. b. unemployed divided by the number in the labor force. c. unemployed divided by the population age 16 and over. d. not working divided by the population age 16 and over.
Which of the following statements is true of an appropriate data set?
A. An appropriate data set should be collected from government registered websites. B. An appropriate data set should have enough controls to do a reasonable ceteris paribus analysis. C. An appropriate data set should not have time series units. D. An appropriate data set should not be based on surveys.