Which of the following is most likely to be a major source of growth in per capita GDP?
A. a high investment / GDP ratio
B. a high rate of inflation
C. rapid population growth
D. rapid growth in the money supply
Answer: A
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In a command economy, a planning agency sets prices for various inputs and final goods. In a market economy, supply and demand decide the prices of various goods. In both cases, there is a set of prices operating in the economy
Then why are market economies considered more efficient than planned economies?
Suppose that the 12-month interest rates for the United States and the United Kingdom are 7% and 6% respectively, and E = 2.10 $/£. Given this information, what is the expected exchange rate change over the year?
A) 1% B) 4.2% C) 2.1% D) 2.0%
While monopoly power can be abused, it can also be used beneficially. What are the major pros and cons of largeness in business?
For Meg, the substitution effect of an interest-rate increase is stronger than the income effect. In response to a higher interest rate, will Meg save more or will she save less?