Special Drawing Rights are
a. a minor source of international reserves.
b. available only to the Group of Seven nations.
c. a collectively managed asset of the International Monetary Fund.
d. All of these.
c. a collectively managed asset of the International Monetary Fund.
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What is the discount rate?
What will be an ideal response?
Which of the following can the government not use directly to control the economy?
a) Pay rates within the private sector b) Pay rates in the public sector c) Investment in state education d) Benefits available for the unemployed and sick
Assuming that a is positive, theories of short-run aggregate supply are expressed mathematically as
a. quantity of output supplied = natural rate of output + a(actual price level - expected price level). b. quantity of output supplied = natural rate of output + a(expected price level - actual price level). c. quantity of output supplied = a(actual price level -expected price level) - natural rate of output. d. quantity of output supplied = a(expected price level - actual price level) - natural rate of output.
Figure 2-9
Which of the following statements could explain the concave shape of the production possibilities curve in ?
a.
The publishing industry develops improved printing presses.
b.
Productive efficiency increases as the publishing industry moves from point F to point H
c.
More editors and writers are employed as the publishing industry moves from point F to point H.
d.
Some writers are better suited to writing novels; some are better suited to writing textbooks.
e.
The prices of paper and ink fall as the publishing industry moves from point H to point F.