Which one of the following resources is not underemployed?
A. The use of Manhattan Island in New York City for growing corn.
B. The use of farmland in the Iowa and Illinois corn belt for buildings to do stock market research.
C. An automobile factory that is shut down for two months to be retooled for a model change.
D. Limiting all men to the fields of school teaching and social work.
C. An automobile factory that is shut down for two months to be retooled for a model change.
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In the Harrod-Domar model, if the savings rate is 20% and the incremental capital output ratio is five, abstracting from depreciation, what is the implied growth rate?
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Changes in government spending and/or taxes as the result of legislation is called:
a. open market operations of the Federal Reserve. b. discretionary fiscal policy. c. balanced budget operations. d. discretionary monetary policy.
Under the Bretton Woods Agreement, the goal of the IMF was to
A. lend to countries experiencing balance of payment deficits. B. help less developed countries advertise their goods in the developed countries. C. provide oversight to the functioning of central banks in the member countries. D. finance international transactions in gold.