Which of the following is NOT considered capital?
A) an assembly line at a General Motors plant
B) a computer used by your instructor for presentations in class
C) stocks and bonds that are sold by Pepsico
D) the furniture in the President's office
E) a nail gun used for building houses
C
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The uncertainty costs of inflation cause people to
A) incur more shoe leather costs. B) increase their demand for money. C) focus on the long run, which increases investment and speeds growth. D) focus on the short run, which decreases investment and slows growth. E) increase investment causing economic growth to decrease.
A large business finds it __________ than a small business to pursue secretly a high-risk investment in violation of the terms of its loan agreement, and so the large business is __________ beset by the moral hazard problem
A) more difficult; more B) more difficult; less C) easier; more D) easier; less
For a number of years Canada and many European countries have had higher average unemployment rates than the United States. The Phillips curve suggests that these countries
a. have higher average inflation rates than the United States. b. have long-run Phillips curves to the right of the United States'. c. may have less generous unemployment compensation or lower minimum wages. d. All of the above are consistent with the evidence on unemployment rates.
The restriction or prohibition of trade in order to put political pressure on a country is:
A. a source of quota rent. B. a tariff. C. unfair practice. D. an embargo.