Over the period 1890-2014, Japan experienced a 2.59 percent average annual growth rate of real GDP per person
a. True
b. False
Indicate whether the statement is true or false
True
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When net exports equal zero, the economy is in macroeconomic equilibrium
Indicate whether the statement is true or false
The costs associated with the overproduction of medical services as a result of comprehensive health insurance are passed on to everyone who has health insurance in the form of higher premiums
a. True b. False
The production possibilities curve depicts the various combinations of two goods that can be:
a. interchanged among two countries. b. produced with a given technology. c. consumed with a given quantity of resources. d. produced with increments in resources and changes in technology. e. consumed as the resources increase.
When banks hold excess reserves because they don't see good lending opportunities, _____
a. contractionary monetary policy is negatively affected b. expansionary monetary policy is negatively affected c. expansionary monetary policy is unaffected d. contractionary monetary policy is unaffected