Among the 23 long-standing members of the Organization for Economic Cooperation and Development (OECD), the highest rates of economic growth during recent decades have been achieved by
a. Western European countries.
b. the countries with the smallest government expenditures as a share of GDP.
c. the countries with the largest government expenditures as a share of GDP.
d. the countries with the most rapid growth of government expenditures as a share of GDP.
B
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Government regulations that worsen the performance of financial institutions include:
a. interest rate ceilings b. reserving a minimum portion of loans for rural borrowers c. a high percentage of deposits kept in reserve d. subsidies for low-income borrowers e. all of the above
Regulators employ average cost pricing instead of marginal cost pricing because
A) average cost pricing is more efficient than marginal cost pricing. B) price must be high enough to cover all opportunity costs if the firm is to stay in business. C) the price is lower with average cost pricing. D) average cost pricing is simpler to compute than marginal cost pricing.
The behavior of the M1 velocity of money in recent years can be explained by: a. stability of interest rates
b. a low and stable rate of inflation. c. monetary policy that has been successful in stabilizing the economy. d. financial innovation creating new substitutes for M1 money. e. a large number of banks and savings and loan associations going bankrupt.
Grocery store coupons, mail-in rebates, senior discounts, and in-state versus out-of-state tuition fees are all examples of:
a. government intervention. b. price neutrality. c. arbitrage pricing. d. price discrimination. e. illegal business practice.