In the OECD countries, there is a negative relationship between output per capita in 1950 and
A) growth since 1950.
B) output per capita in the 1990s.
C) distance from the equator.
D) population.
E) none of the above
A
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Items bought by businesses to help produce other goods and services are called
A) capital goods. B) exports of goods and services. C) government goods and services. D) productive goods. E) consumption goods and services.
Nominal exchange rates differ from real exchange rates in that nominal exchange rates
A) do not correct for differing interest rates across countries. B) do not measure the purchasing power of the currency. C) are fixed, while real exchange rates are flexible. D) are flexible, while real exchange rates are fixed.
The inflation gap can best be described as:
A) the percentage difference between GDP and its potential B) the difference between inflation and its target C) the change in the inflation rate from one year to the next D) the difference between the inflation rate and the average inflation rate of that of the nations with the 3 lowest inflation rates
What organization is most important due to its distribution of multilateral aid, its expertise in development, and its strong influence on other donors?
a. the World Bank b. the World Trade Organization c. the International Monetary Fund d. the UN Development Programme