Which statement is true?
A. The United States is usually inside our production possibilities curve.
B. The United States is usually outside our production possibilities curve.
C. The United States is usually on our production possibilities curve.
D. None of the statements are true.
A. The United States is usually inside our production possibilities curve.
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The form of property ownership rights inherited from the colonial period was characterized by which of the following?
(a) Property ownership was almost ideal as the base for a free-market economy. (b) Property ownership established property, including land, as a "commodity" that could be easily bought and sold. (c) Property ownership proved to be an excellent vehicle for economic growth. (d) All of the above.
Banks use ______ to make loans to borrowers.
a. primary reserves b. secondary reserves c. excess reserves d. reserve requirements
Refer to the scenario above. Which of the followings statements is true of the model?
A) According to the model two additional years of education will increase an individual's future wages 1.20 times. B) The predictions of this model can be verified empirically. C) According to the model two additional years of education will increase an individual's future wages 2.98 times. D) The predictions of this model can only be applied for a limited number of years of additional education.
If the nominal exchange rate rises and price levels stay constant, the real exchange rate will
A) rise. B) fall. C) stay constant. D) could rise, fall or stay constant.