Relations between rich and poor countries is most important in
a. Marx's view of capitalist development
b.dualism
c. dependency theory
d. Rostow's stages of development
e. none of the above
C
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What would a leftward shift of the labor demand curve indicate?
a. Firms want to hire more workers than before at any given wage than before. b. Firms want to pay a higher wage than before at any given level of employment. c. Households want to supply fewer hours of work than before at any given wage rate. d. Firms want to hire fewer workers than before at any given wage rate. e. Households want to supply more hours of work than before at any given wage rate.
According to Nobel Laureate Simon Kuznets, the greatest increase in output and economic growth comes from changes in the _____
a. quantity of resources b. quantity of natural resources (land) c. quantity of labor d. quality of resources e. quantity of capital
Which of the following statements is correct about the relationship between inflation and interest rates?
a. There is no relationship between inflation and interest rates. b. The interest rate is determined by the rate of inflation. c. In order to fully understand inflation, we need to know how to correct for the effects of interest rates. d. In order to fully understand interest rates, we need to know how to correct for the effects of inflation.
From uncovered interest parity, we know that when the domestic interest rate is greater than the foreign one:
a. the domestic currency is expected to appreciate. b. the domestic currency is expected to depreciate. c. the foreign currency is expected to appreciate. d. the foreign currency is expected to depreciate.