The best example of a public good is:
A. government-subsidized lunches.
B. national defense.
C. pollution.
D. competition.
Answer: B
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If the price elasticity of demand for a good is greater than one, then the demand for that good is:
A. unit elastic. B. perfectly elastic. C. inelastic. D. elastic.
Successful export-led growth policy entails:
A. choosing the "right" industries to invest in. B. blocking the "right" industries from importing to domestic markets. C. choosing the "right" incentives to encourage exports. D. choosing the "right" disincentives to reduce imports.
In recent years, the Fed has generally set the discount rate
a. lower than the federal funds rate to help financially troubled banks get more solvent. b. higher than the interest rate on 30-year fixed-rate mortgage loans. c. higher than the federal funds rate for most banks. d. equal to the rate of inflation.
Data on convergence suggests:
a. poor countries are converging with the median country. b. rich countries are converging with other rich countries. c. only countries with the same populations are convergine. d. none of the above.