Which of the following is a key factor in opening up trade between countries?
a. Differences in consumer income
b. Differences in opportunity costs
c. Differences in growth rates
d. Differences in consumption patterns
b
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What impact would the Fed's raising the interest rate have on any inflationary pressure in the economy?
A) An increase in interest rates decreases the money demand, which could slow increases in the price level. B) An increase in interest rates decreases the exchange rate, which causes net exports to rise, generating inflation. C) An increase in interest rates increases real GDP, which creates inflation in an economy. D) An increase in interest rates increases the money supply, which could cause the price level to increase.
Modern research suggests that colonial Americans experienced positive rates of economic growth but not a high quality of life
Indicate whether the statement is true or false
The value that society places on consumption that is sacrificed in the present is called
A. social marginal costs. B. social marginal damages. C. social rate of discount. D. social returns.
YearCPI2010952011100201210520131042014106According to the table shown, what can be said about the cost of living in 2011?
A. It is the base year, so no comparisons can be made in this year. B. It is the base year, so the cost of the basket of goods did not change. C. It increased by 5.0 % from the previous year, and consumers were better off if their nominal income did not change. D. It increased 5.3 % from the previous year, and consumers were worse off if their nominal income did not change.