In the early stages of development, educational spending should be focused on
a. basic literacy
b. agricultural skills
c. basic technical skills
d. accounting and management skills
e. all of the above
E
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If the Federal Reserve targets the interest rate and the money demand curve shifts to the left, then the Fed
A) can maintain the interest rate target, but at a higher quantity of the money supply. B) cannot maintain the interest rate target. C) can maintain the interest rate target with no change in the money supply. D) can maintain the interest rate target, but at a lower quantity of the money supply.
If a firm hires 312 workers it will produce 4,522 units of output. If it hires 313 workers it will produce 4,786 units of output. The marginal physical product of labor equals
A) 4,786. B) 313. C) 264. D) 1.
If at some interest rate desired investment is $400 billion, desired private saving is $600 billion, and the budget deficit is $300 billion, is there a surplus or a shortage in the market for loanable funds? What does this imply would happen to interest rates?
The largest component of the U.S. GDP is:
A. C B. I C. G D. NX