Argentina in 2001 faced a debt problem more serious than the U.S. debt problem because Argentina was obligated to repay its debt in
a. U.S. dollars.
b. their own currencies.
c. a relatively short period of time.
d. large installments.
a
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If the reserve ratio is 20 percent, then $100 of new reserves can generate
a. $60 of new money in the economy. b. $250 of new money in the economy. c. $500 of new money in the economy. d. $2,000 of new money in the economy.
Which statement is true?
A. Productivity only partially explains wage differentials. B. The reason why college graduates earn much more than high school graduates is that they have received very valuable job training in college. C. With almost no exceptions, the more productive you are, the more you earn. D. None of the statements are true.
In Macroland, potential output equals $100 trillion and the natural rate of unemployment is 4 percent. If the actual unemployment rate is 3 percent, then the output gap equals:
A. ?2 percent. B. 1 percent. C. ?1 percent. D. 2 percent.
The relationship between the price level and net exports is:
A. perfectly correlated. B. negative. C. uncorrelated. D. positive.