Capital flight raises a country's interest rate
a. True
b. False
Indicate whether the statement is true or false
True
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Billy's income elasticity of demand for ground beef is -0.5 and his income elasticity of demand for pork chops is 1.2 . Is ground beef a normal or inferior good? Explain. What about pork chops?
What will be an ideal response?
In 1879 . President Rutherford B. Hayes had the first telephone installed in the White House, but it was rarely used because:
a. he didn't know what it was b. it kept breaking and no one could fix it c. hardly anyone else in Washington had a telephone, so there was no one to call or to call in d. hand written letters were considered a more correct form of correspondence
Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Dan has the comparative and absolute advantage in sandwiches. B. Dan has the comparative and absolute advantage in smoothies. C. Dan has the comparative advantage in smoothies, but Tracy has the absolute advantage in smoothies. D. Dan has the comparative advantage in sandwiches, but Tracy has the absolute advantage in sandwiches.
How well did the Federal Reserve Banks perform during the Great Depression?
(A) The Chair of the Board of Governors made bad decisions and directed the Federal Reserve Banks to act in harmful ways. (B) The Federal Reserve System skillfully guided the United States economy out of the Great Depression. (C) Individual governors of the Federal Reserve Banks disagreed over policy and were unable to stop the depression. (D) The Great Depression took place before the Federal Reserve System was established.