According to Olsen, the dictator that promotes growth is the:
a. tinpot
b. roving bandit
c. the stationary bandit
d. all dictators are good for growth
e. non dictator is good for growth
C
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An increase in the real wage would result in a
A) movement along the labor demand curve, causing an increase in the number of workers hired by the firm. B) shift of the labor demand curve, causing an increase in the number of workers hired by the firm. C) movement along the labor demand curve, causing a decrease in the number of workers hired by the firm. D) shift of the labor demand curve, causing a decrease in the number of workers hired by the firm.
The combined effects of a fiscal contraction and a monetary expansion are
A. higher real interest rates. B. exchange rate depreciation. C. increased current account deficit. D. All of these responses are correct.
The inflationary premium is that portion of the interest rate that reflects
a. the real return derived by lenders. b. the rush to buy goods before prices rise. c. the expected annual rate of decline in the purchasing power of money while a loan is outstanding. d. the price that one must pay for earlier availability of goods and services during a period of price stability.
Guns and butter represent the classic societal tradeoff between spending on which two items?
a. national defence and consumer goods b. imports and exports c. law enforcement and agriculture d. durable and nondurable goods