An economist would argue that global warming is
a. unquestionably a human-generated problem that should be stopped immediately at all costs.
b. simply fear mongering, for there is no scientific evidence that the average temperature on earth is changing.
c. likely to cause massive starvation as temperatures on earth rise, reducing agricultural productivity.
d. a serious issue that may best be addressed primarily by making changes as problems occur in the future.
D
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A country's current account includes which of the following?
a. sales of assets to other countries b. purchases of assets from other countries c. all current automatic payments between countries d. the country's trade balance e. the balance available in the government's Treasury account
When commercial banks use excess reserves to buy government securities from the public:
A. new money is created. B. commercial bank reserves increase. C. the money supply falls. D. checkable deposits decline.
To contract the money supply, the Fed should
A) lower the required reserve ratio. B) increase government spending and cut taxes. C) reduce the differential between the discount rate and the federal funds rate. D) sell U.S. government securities.
Michelle Martelle, CEO of Michelle Enterprises, has five projects in hand and is considering which, if any, to undertake. Their expected returns are: project A = 12 percent, project B = 7 percent, project C = 10 percent, project D = 9 percent, and project E = 8 percent. If the interest rate is 8.5 percent, which, if any, investment projects will she accept?
a. Only project A. b. Projects A and C. c. Projects A, C and D. d. Projects A, C, D and E. e. Projects A, B, C, D and E.