The principal cause of a third farm depression beginning in 1997 was
A. A decrease in grain prices.
B. A crop failure in 1998.
C. Environmental damage.
D. The Asian economic crisis.
Answer: D
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There are ________ members of the FOMC
A) 5 B) 7 C) 12 D) 19
The point where the PPF intersects the horizontal axis is
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.
Which of the following is not a true barrier to human capital development in poor nations?
A. Inequality trap. B. Illiteracy. C. Access to health care professionals. D. Prohibitive costs to meet basic needs.
Refer to Table 9-3. If the required reserve ratio is 10% and the market interest rate is 6%, then the opportunity cost of holding excess reserves is
A) zero since Alpha-Beta does not hold any excess reserves. B) $0.9 million. C) $2.4 million. D) $4 million.