Which of the following calculates the cost of purchasing a specific bundle of goods and services in each country and uses this measure to convert the incomes of different countries to a common currency so they may be more accurately compared?
a. the consumer price parity (CPP) method
b. the purchasing power parity (PPP) method
c. the GDP deflator exchange (GDPDE) method
d. the inflation conversion factor (ICF) method
B
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The economic way of thinking assumes people, including Mother Teresa, Jack the Ripper, Henry VIII, and Hilary Rodham Clinton, act on the basis of
A) greed. B) altruism. C) terror. D) the projects they are interested in.
If the currency drain increases, how can the Fed adjust the monetary base to offset the effect on the quantity of money?
What will be an ideal response?
Attempts to shield the poor from the worst results of adjustment programs involve
a. expenditure-switching policy b. absorption c. a social safety net d. conditionality e. all of the above
Which of these is not among the principal determinants of economic growth?
A) institutions B) education C) research and development D) balanced trade E) saving and investment