During the time period of 1981-1983 what dramatic world issue happened?
A) political instability, insecure property rights
B) stock market crashed
C) world wide hyperinflation
D) the collapse of the U.S. mortgages market
E) A world economic recession caused developing countries to not be able to make payments on foreign loans, in turn causing a universal default.
E
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The above figure shows two Lorenz curves. Suppose both Lorenz curves measure wealth. Then, the curves show that wealth is
A) greater along Lorenz curve A. B) greater along Lorenz curve B. C) distributed more equally along Lorenz curve A. D) distributed more equally along Lorenz curve B.
Joe works for an environmental agency. Every day he chooses to fill his reusable water bottle and bring it to work instead of bringing in a plastic disposable water bottle each day. Joe most likely derives utility from:
A. the taste of water from his reusable water bottle. B. the knowledge that he is doing something good for the environment by not using plastic water bottles. C. the knowledge that others in his firm observe his environmentally-friendly choice of water bottle. D. Joe likely derives utility from all three of these sources.
Hyperinflation can be explained by
a. the market for loanable funds. b. the quantity theory of money. c. the velocity theory of money. d. the market for federal funds.
If official reserves increase, then we know that the
A) capital and financial account is positive. B) official settlements account balance is negative. C) capital and financial account and the current account must sum to zero. D) capital and financial account is negative. E) official settlements account balance is positive.