Which of the following is true about growth rates?
a. in recent decades, the rich countries of the world have consistently grown more rapidly than poor countries.
b. no less developed country (LDC) was able to achieve a more rapid growth rate than the United States during the 1980 through 2005 period.
c. during recent decades, most LDCs have stagnated economically.
d. during 1980 through 2005, the fastest growing countries in the world were mostly LDCs.
Answer is d. during 1980 through 2005, the fastest growing countries in the world were mostly LDCs.
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Which of the following is a financial intermediary?
A) an insurance company B) the Internal Revenue Service C) the Red Cross D) a share of corporate stock
Financial innovations that grew out of the bank branching restrictions were
A) bank holding companies and automated teller machines. B) bank holding companies and securitization. C) automated teller machines and sweep accounts. D) automated teller machines and bank credit cards.
Suppose we expect consumer prices to increase by about 30 percent between 2010 and 2020, and the minimum wage was $7.25 per hour in 2010. What should be the minimum wage in 2020 if it is set to maintain the same purchasing power as in 2010?
A) $7.25 B) $7.55 C) $9.42 D) none of the above.
The assumption that firms meet the demand for their products at preset prices is the key assumption upon which ________ is built.
A. Okun's Law B. the supply and demand model C. quantity equation for money D. the basic Keynesian model