Complete the following analogy: A criminal is to a police artist's sketch as the economy is to:
A. money.
B. an economic model.
C. a resource.
D. scarcity.
Answer: B
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The Bretton Woods agreement created the ________, which was given the task of promoting the growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments
difficulties. A) IMF B) World Bank C) Central Settlements Bank D) Bank of International Settlements
Refer to Figure 14.2. Hurricane Katrina was responsible for destroying a large portion of oil and natural gas refining capacity on the Gulf coast in 2005. Other things equal, this would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point A to point C.
An increase in the rate of interest would increase
A. the opportunity cost of holding money. B. the transactions demand for money. C. the asset demand for money. D. the price of bonds.
In the context of growth, the goal of stabilization policy once per capita output is equal to potential per capita output is to
A) insure that the percentage change in per capita output and potential per capita output over time are equal. B) raise the growth rate of potential per capita output above that of per capita output. C) raise the growth rate of per capita output above that of potential per capita output. D) None of the above is correct.