In the United States, real interest rates were
a. high in the 1970s and 1990s.
b. low in the 1970s and 1990s.
c. high in the 1970s and low in the 1990s.
d. low in the 1970s and high in the 1990s.
d
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Which of the following is true about average fixed cost?
a. Average fixed cost has a U-shape, and marginal cost crosses average fixed cost at its minimum point. b. Average fixed cost does not vary as output increases. c. Average fixed cost is the difference between marginal cost and average total cost. d. Average fixed cost is total fixed cost divided by the quantity of output produced, and it declines steadily as output increases.
Using economic analysis to help understand world issues
a. assumes that all decision makers use detailed economic analysis b. highlights the role of choice when resources are scarce c. has unlimited application d. is not appropriate because reality is too complex for economic modeling e. typically enables one nation to gain only when another nation loses
When members of a group enjoy different opportunities that cannot be attributed to differences in ability,
a. discrimination is said to occur b. comparable worth laws are ineffective c. licensing agreements must be in effect d. all wages in the market will be the same e. the demand for labor will increase
The IMF offers loans to developing countries in times of balance of payment constraints, but the IMF also faces strong criticisms because:
A. contractionary fiscal policy and expansionary monetary policy tend to be ineffective against balance of payment constraints. B. contractionary fiscal and monetary policies are always undesirable for any developing country. C. it employs economists that know little about developing countries and their economic affairs. D. the conditions tend to be procyclical, therefore worsening the recessions.