Which of the following does not contribute to an institutional structure that promotes economic growth?
A. A pro-business environment.
B. Entrepreneurial incentives.
C. Policy uncertainty.
D. Well-defined property rights.
Answer: C
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In 2013, the reference base period for the CPI for the nation of Wobet, a typical consumer spent $30 on potatoes and $150 on steak. Which of the following is true?
A) The quantity of steak in the basket is larger than the quantity of potatoes. B) The quantity of potatoes in the basket is larger than the quantity of steak. C) The quantity of the two goods in the basket is the same. D) We cannot say exactly how many of each good are in the basket. E) None of the above answers is correct.
An economist says: "The supply curve has two interpretations." What does the economist mean?
What will be an ideal response?
The IMF agreement forced the U.S. to exchange gold for dollars at what price?
A) $25/ ounce B) $35/ ounce C) $45/ ounce D) $55/ ounce E) $20/ ounce
The Bretton Woods system lasted from
A) 1801 to 1861. B) 1863 to 1914. C) 1945 to 1971. D) 1981 to 1993.