Economic freedom is
A. important in leading to positive economic growth.
B. a concept in theory since no country has pure economic freedom and therefore cannot be analyzed with respect to economic growth.
C. a confusing concept since the more economic freedom residents in a country have the lower the level of economic growth.
D. not an important factor in leading to positive economic growth.
Answer: A
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A decrease in the currency exchange rate would shift the aggregate demand curve rightward, resulting in a higher equilibrium income and price level in the long-run
Indicate whether the statement is true or false
What is the range of the required reserve ratio?
a. Between 0 and 2 b. Between 0 and 1 c. Between 0 and 100 d. Between 0 and infinity e. Between 0 and 10
On the Micronesian island of Yap, the money that is primarily used as currency is
a. paper money. b. wheels made of stone. c. gold. d. shells and gems.
Suppose pizzas are the only good and people have homothetic preferences. The supply of pizzas today is perfectly inelastic and determined solely by people's endowments. Which of the following would cause the interest rate to rise?
a. A 50% increase in pizza production, this year and throughout the future. b. A 50% increase in this year's pizza production that is not expected to affect future harvests. c. An expected 50% increase in future pizza production. d. A hurricane that permanently destroys 50% of all pizza parlors.