The track record of foreign assistance
a. is not very clear.
b. shows that it have been very successful in helping poor countries.
c. has enhanced the protection of private property rights in less developed countries.
d. has drastically reduced corruption in less developed countries.
e. has made most economists skeptical.
E
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Identify the difference between the short-run and the long-run
If, due to rising demand, the price of cotton rose 10 percent while the prices of other goods and services rose an average of 15 percent,
a. the relative price of cotton has risen and one would expect the output of cotton to rise as a result. b. the relative price of cotton has risen and one would expect the output of cotton to fall as a result. c. the relative price of cotton has fallen and one would expect the output of cotton to rise as a result. d. the relative price of cotton has fallen and one would expect the output of cotton to fall as a result.
If the economy's full-employment output is $12 trillion, actual output is $10 trillion, and the budget deficit is $2 trillion, the deficit in this case is known as a
A. natural employment deficit. B. cyclical deficit. C. debt deficit. D. structural deficit.
Which of the following macroeconomic variables is procyclical and leads the business cycle?
A. Residential investment B. Business fixed investment C. Unemployment D. Nominal interest rates