According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development.
B. a sufficient condition for development but not a necessary condition.
C. a necessary condition for development but not a sufficient condition.
D. neither a necessary nor a sufficient condition for development.
Answer: C
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Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had flexible exchange rates, these flows would have had the following effect on the financial account and monetary base
a. Financial account would rise and reserves account would fall. b. Financial account would not change and reserves account would fall. c. Financial account would not change and reserves account would not change. d. Financial account would fall and monetary base would not change. e. Financial account would fall and reserves account would rise.
Economists have found that asymmetric information is not very prevalent
a. True b. False Indicate whether the statement is true or false
If a single bank has $25,000 in excess reserves and the desired reserve ratio is 20 percent, what is the maximum this bank can loan?
A) $125,000 B) $20,000 C) $5,000 D) $30,000 E) $25,000
Scarcity is
A) a situation of shortage after a hurricane. B) a permanent human condition relative to the nearly limitless nature of human desires. C) represented by long lines at stores. D) the same thing as poverty.