According to the text, Zambia faces decreasing living standards because
a. it is hoarding gold
b. the kwacka is rising in value relative to the dollar
c. it has a positive balance on its current account
d. it has taken steps to reduce its international debt
e. its debt service is relatively high
E
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A temporary decrease in government purchases in the classical model would
A) shift the production function to the left. B) shift the marginal product of labor curve to the right. C) shift the labor demand curve to the left. D) shift the labor supply curve to the left.
Borrowing is like:
A. selling the right to use your money for a time. B. buying the right to use someone else's money. C. selling the right to use someone else's money. D. buying the right to use your money for a time.
A theory is a deliberate simplification or abstraction of factual relationships.
Answer the following statement true (T) or false (F)
Which of the following does a government provide as part of a safety net for the people?
a) general elections every four years b) unemployment compensation c) a stong military defense d) regulation of commerce