The government in Dirk’s country make sure its citizens get a good basic education, but it is still much poorer than its neighbors. What step might Dirk’s government take to further improve its human capital and thus increase its economic growth rate?
a. It could strive to improve health conditions.
b. It could use irrigation to increase farmland.
c. It could invite foreign companies to build advanced factories there.
d. It could offer grants for research.
a. It could strive to improve health conditions.
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Which of the following allow banks to minimize the cost to a business of borrowing?
I. Borrowing long and lending short II. Raising funds from a large number of depositors III. Creating money by lending all their reserves A) I only B) II only C) I and III D) II and III
A public transit company finds that when it reduces the price of a bus ticket, total revenues remain the same. One can conclude from this that:
A. the demand curve is horizontal, reflecting infinite price elasticity. B. if the price is lowered further total revenue will increase. C. the demand curve for bus tickets must have shifted to the right. D. the firm is operating in a range of the demand curve that is unit elastic.
Expenditures for services such as tourism, income for foreign investment, and foreign gifts are tabulated in the:
A. current account. B. capital account. C. official reserve account. D. goods account.
A key component of the Keynesian model is that
A. prices are flexible. B. wages are flexible. C. people are not fooled by money illusion. D. prices are sticky.