The African agrarian system is characterized by
(a) absentee landlords.
(b) a dual agrarian system known as latifundio-minifundio.
(c) land fragmentation.
(d) shifting cultivation.
D
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If there are no net factor payments from abroad and no unilateral transfers, net exports of $10 billion is the same as
A) a current account deficit of $10 billion. B) a financial account surplus of $10 billion. C) net acquisition of foreign assets of $10 billion. D) net foreign borrowing of $10 billion.
The Coase theorem is the idea that:
A. individuals can reach an efficient equilibrium through private trades, even in the presence of an externality. B. there are always mutually beneficial trades waiting to be exploited, and that creates a clear role for government taxation. C. the actions of private individuals and firms are insufficient to ensure efficient markets. D. None of these statements is true.
A higher required reserve ratio _________ the value of the simple deposit multiplier
A. Increases B. Decreases C. Eliminates
Which of the following is a valid statement?
A. The required reserve ratio equals the required reserves as a percentage of total deposits. B. The required reserves equal the maximum reserves required by the Fed. C. Excess reserves equal total reserves plus required reserves. D. The required reserve ratio equals percentage of savings account deposit, but not checkable deposits, required by the Fed.