In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability.
B. decreasing population growth.
C. increasing corruption.
D. reducing investment.
Answer: D
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The joining of the eastern and western sections of nation's first transcontinental railroad was commemorated with the driving of the last spike on May 10, 1869:
a. in Salt Lake City. b. in Washington, D.C. c. at Promontory Point. d. on the rim of the Grand Canyon.
Risk diversification refers to the process by which:
A. insurance companies change the risk aversion of their clients. B. insurance companies reallocate the likelihood of catastrophes happening. C. people organize themselves in a group to collectively absorb the cost of the risk faced by each individual. D. risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual.
According to Milton Friedman, continued inflation is always and everywhere
A) a supply-side phenomenon. B) caused by continued decreases in aggregate supply. C) caused by continued increases in the budget deficit. D) a monetary phenomenon. E) none of the above
Real GDP per person in both Alpha and Omega is equal to $2,000. Over the next 100 years, real GDP per person grows at a 1 percent annual rate in Alpha and at a 2 percent annual rate in Omega. After 100 years, real GDP per person in Alpha is ________ smaller than real GDP per person in Omega.
A. $11,080 B. $2,000 C. $5,410 D. $9,080