Education yields positive externalities. For example, a more educated population
a. may increase the pace of technological advances, leading to higher productivity and wages for everyone.
b. leads to more informed voters, resulting in better government for everyone.
c. tends to result in lower crime rates.
d. All of the above are correct.
d
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In the United States, the good or service given the most weight in the CPI basket when calculating the CPI is
A) food and beverages. B) taxes. C) medical care. D) housing. E) recreation.
The difference between the money rate of interest and the real rate of interest is often called the
a. real balance effect. b. prime interest rate. c. inflationary premium. d. discount rate.
Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had flexible exchange rates, what effect would these flows have had on Venezuela's overall balance and reserves account?
a. Overall balance would rise and reserves account would fall. b. Overall balance and reserves account would both equal zero. c. Overall balance would fall and reserves account would equal zero. d. Overall balance would equal zero and reserves account would fall. e. Overall balance would fall and reserves account would rise.
Which of the following is the correct way to show the effects of a newly imposed import quota?
a. shift the demand for loanable funds left, the supply of dollars in the market for foreign- currency exchange left, and the demand for dollars in the market for foreign-currency exchange right b. shift the demand for loanable funds left, the supply of dollars in the market for foreign- currency exchange right, and the demand for dollars in the market for foreign-currency exchange left c. shift the demand for dollars in the market for foreign-currency exchange to the right d. shift the supply of dollars in the market for foreign-currency exchange to the left