Among countries with per capita GDP in 2004 of less than $2,000,
A. the ruling party typically can print money when it wants.
B. inflation rates tend to be high.
C. central banks tend to be weak or non-existent.
D. all of the options are correct.
Answer: D
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The law which prohibits embezzlement of funds by employees or income tax evasion acts as a(n):
a. psychological constraint b. ethical constraint. c. organizational constraint. d. contractual constraint.
The income effect is thought to offset the substitution effect among very high wage earners.
Answer the following statement true (T) or false (F)
A ton of coal purchased by your local utility to burn to make electricity would be best described as
A) an intermediate good. B) a financial asset. C) a used good. D) a final product.
The phase of the business cycle characterized by rising employment is called
a. a recession b. a low-tax phase c. a high-inflation phase d. an expansion e. a depression