Convergence is a pattern in which:
a. low-income and middle-income economies grow faster than those of high-income countries.
b. high-income economies grow faster than those of low-income and middle-income countries.
c. Western economies grow faster than Eastern economies.
d. Eastern economies grow faster than Western economies.
a. low-income and middle-income economies grow faster than those of high-income countries.
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As the baby boomers in America grow old, the demand for health-care workers increases. This would be an example of which determinant of labor demand?
A. A decrease in the price of another resource. B. An increase in product demand. C. An increase in labor productivity. D. An increase in the price of another resource.
Who serves as voting members of the Federal Open Market Committee (FOMC)?
What will be an ideal response?
If the centrally planned economy of Rowboat dismantles central controls before institutions such as property rights are in place, instability will most likely result
a. True b. False
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real GDP and current international transactions balance in the context of the Three-Sector-Model? a. Real GDP falls and current
international transactions balance becomes more negative (or less positive). b. Real GDP rises and current international transactions balance becomes more negative (or less positive). c. Real GDP falls and current international transactions balance becomes more positive (or less negative). d. Real GDP rises and current international transactions balance remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.