A country has a trade surplus when
A) imports exceed exports.
B) imports equal exports.
C) exports exceed imports.
D) imports equal zero.
C
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Suppose that the country of Argentina has an 6% real interest rate and an expected inflation rate of 10%. Which of the following is the best estimate of the nominal interest rate in the country?
a. 16% b. 8% c. 4% d. 18% e. none of the above
A point inside a society's production possibilities curve represents
A. a technically superior output combination. B. an underutilization of productive resources. C. an output combination that satisfies the needs of the population. D. an unattainable combination of outputs.
Which of the following would reduce the money multiplier?
A) bank reductions in desired reserve holdings B) reducing the reserve ratio C) cash drains from banks D) bond purchases by the Fed
An increase in wealth would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.