Which of the following is used to measure directly the average standard of living across countries?
A. Real GDP.
B. Nominal GDP.
C. Purchasing power parity.
D. GDP per person.
Answer: D
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Which of the Fed's instruments is most frequently used?
A) Changing reserve requirements B) Open-market operations C) Changing the discount rate D) Changing margin requirements for the stock market
If insurance is fairly priced, a risk-averse individual will purchase enough insurance to cover the full amount of the possible loss
Indicate whether the statement is true or false
During the financial crisis of 2007-2009, why did the Federal Reserve begin to utilize various types of unconventional monetary policy?
a. the federal funds rate had already been increased as much as possible b. the discount rate had already been increased as much as possible c. the federal funds rate had already been reduced to zero d. the discount rate had already been reduced to zero
A country has an absolute advantage over another in the production of widgets if it can produce
a. widgets using smaller quantities of resources than can the other country. b. more widgets than can the other country. c. widgets more efficiently than can the other country. d. widgets at a lower opportunity cost than can the other country.