Major macroeconomic issues include differences across countries in all of the following EXCEPT:
A. economic growth rates.
B. inflation rates.
C. infant mortality rates.
D. unemployment rates.
Answer: C
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Which of the following is not a reason for studying credit market frictions?
A) explaining features of financial crises. B) explaining key elements of financial market behavior. C) understanding why Ricardian equivalence may not work. D) explaining why collateral does not matter.
The proposition that the amount of goods and services produced in an economy in the long run is not affected by the price level is known as the ________
A) neutrality of money B) classical dichotomy C) quantity theory of money D) Fisher effect E) none of the above
Federal Reserve actions that increase nominal interest rates and decrease the money supply:
A. raise the rate of inflation. B. raise bond prices. C. close an expansionary gap. D. close a recessionary gap.
Which of the following is true of a common market?
A. There is free movement of capital and labor among the member countries. B. The member countries export similar products to the non-member countries. C. The member countries do not import goods from the non-member countries. D. The member countries have identical monetary and fiscal policies.