Suppose that in 2016, real GDP grew in Estonia by 3% and the population increased by 5%. Therefore, in 2016, Estonia experienced
A) economic growth and an increase in living standards.
B) no economic growth, but an increase in living standards.
C) no economic growth and no increase in living standards.
D) economic growth, but not an increase in living standards.
D
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The labor supply curve is:
A) horizontal. B) downward sloping. C) vertical. D) upward sloping.
A seller has some information about a good that the buyer does not have. When would the seller be most likely to provide the buyer with the currently "hidden" information?
A. When the seller thinks that providing the information will decrease the supply of the good. B. When the seller thinks that providing the information will increase the supply of the good. C. When the seller thinks that providing the information will decrease the demand for the good. D. When the seller thinks that providing the information will increase the demand for the good. E. There is not enough information to answer the question.
The agreement that established Spain and Portugal's rights to explore various parts of the world was called:
a. the Treaty of Spain. b. the Treaty of Paris. c. the Treaty of Tordezillas. d. the Spanish-Portuguese Covenant. e. the London Accord.
Excess reserves are important to bankers because:
a. They are typically deposited in special high-yielding investment accounts. b. They represent the funds that can be used to acquire income-producing assets, such as loans and securities. c. They indicate the profits that are divided among the financial institution's owners. d. They indicate profitable banking practices. e. If they are not maintained, banking regulators may shut down the bank.