If California were a separate economy, it would be the ____ largest economy on earth
a. second
b. third
c. fifth
d. eighth
d
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The theory of purchasing power parity cannot fully explain exchange rate movements in the short run because
A) all goods are identical even if produced in different countries. B) monetary policy differs across countries. C) some goods are not traded between countries. D) fiscal policy differs across countries.
Identify the correct statement
a. The United States was an international net debtor from the end of World War I until the mid-1980s. b. The United States was an international net creditor from the end of World War I until the mid-1980s. c. In 1945, the United States became an international net debtor for the first time in almost 70 years. d. In 1985, the United States became an international net creditor for the first time in almost 70 years. e. The net creditor status of the United States has grown steadily since 1985.
Which of the following can policy do?
a. alter incentives b. alter trade-offs c. change opportunity costs d. All of the above are correct.
The argument for greater equality of income distribution in the United States hinges on the idea that low-income earners would be more willing and able participants in the economy if income were distributed more equally.
Answer the following statement true (T) or false (F)