The productivity of land is the most important factor that determines the standard of living of a country
a. True
b. False
Indicate whether the statement is true or false
False
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According to Coase's analysis, when are private costs and social costs the same?
a. Always. b. When there are no transactions costs. c. When property rights are clearly defined. d. Never.
In 2008 as the recession worsened, suppose discouraged workers were included as part of the unemployment rate. Which of the following would have occurred?
A) The unemployment rate would have increased. B) The unemployment rate would have decreased. C) The labor force participation rate would not have changed. D) The unemployment rate would not have changed. E) The labor force participation rate would have decreased.
Everything else held constant, when the current value of the domestic exchange rate increases, the ________ of domestic assets ________
A) quantity supplied; does not change B) supply; decreases C) quantity supplied; increases D) supply; increases
Congress created the Federal Reserve System
A) to serve as a lender of last resort. B) to process the receipt of taxes received by the Internal Revenue Service. C) to regulate the value of the U.S. dollar against foreign currencies. D) to provide a source of mortgage loans to the residential housing market.