The per-worker production function is ____ sloped and ____ at a(n) ____ rate
a. negatively; decreases; diminishing
b. negatively; decreases; increasing
c. positively; increases; increasing
d. positively; increases; diminishing
d
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In response to already low short-term interest rates doing little to stimulate the economy during the Great Recession, the Fed began purchasing mortgage-backed securities and long-term government bonds to bring down long-term interest rates
This policy was called A) closed market operations. B) contractionary monetary policy. C) inflation targeting. D) quantitative easing.
The required reserve ratio is 20 percent and banks have no excess reserves. Katie deposits $300 in her bank. What are the bank's excess reserves immediately after Katie makes her deposit?
A) $30 B) $90 C) $240 D) $60 E) $300
Socialism is correctly described by which of the following statements?
a. Central planning is used exclusively to answer the basic economic questions. b. Markets are used exclusively to answer the basic economic questions. c. Tradition is used exclusively to answer the basic economic questions. d. Government ownership of many resources and centralized decision-making answers the basic economic questions.
After its reforms in the late 1970s, China followed a policy of
a. Nationalization of all enterprises b. export of technology c. free economic zones d. import substitution e. industrial planning