How do growth rates vary across countries? Are the rich countries getting richer while the poor are getting poorer?
Growth rates vary widely across countries. The countries that have grown most rapidly during the past quarter of a century were mostly all poor less-developed economies in 1980 . So it is an over-simplification to state that the rich are getting richer while the poor are getting poorer. However, the countries with the worst growth records, many that have experienced reductions in per capita income since 1980, are all poor countries. The high-income developed economies are generally between these two extremes. Thus, low-income, less developed countries have both the best and worst growth records of recent decades.
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Two variables are unrelated if their graph is i. a vertical line. ii. a 45 degree line. iii. a horizontal line
A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Suppose your expenses for this term are as follows:
tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $5,500 B) $8,500 C) $11,500 D) $14,500
Purchasing power parity suggests that
a. Given fixed prices, interest rates adjust so that a good costs the same across two countries b. Given fixed exchange rates, prices adjust such that a good costs the same across two countries c. All of the above d. None of the above
The federal funds rate and the quantity demanded of reserves have a(n) ____________ relationship. This is because as the federal funds rate moves down, it becomes _______________ for banks to hold reserves, encouraging banks to hold ____________ in reserves to guard against checkable deposit withdrawals
A) inverse; more expensive; more B) direct; more expensive; less C) inverse; cheaper; more D) direct; cheaper; more