If the money supply of a country doubles, a likely result is ________.
enough demand to give everyone a job
inflation
a trade surplus
a doubling of real GDP
inflation
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Which of the following is most likely to be an inferior good? a. Porsches
b. Lobster. c. Used clothing. d. An Ivy League education.
Recently, Dow Chemical 8.5 percent bonds maturing in 2006 closed at $92 with a face value of 100 . This means the Dow bonds
a. sold for $92 each. b. increased in value $92 that day. c. sold at 92 percent of par value. d. had the year of maturity changed to 1992.
If the Gini coefficient is greater for the United Kingdom than for Japan, we can conclude that the
A. Distribution of income in the United Kingdom is closer to being equal than in Japan. B. Distribution of income in the United Kingdom is as equal as it is in Japan. C. Relative distributions of income in the two countries are the same. D. Distribution of income in the United Kingdom is less equal than in Japan.
Which is a better outcome for income and standard of living levels for large nations?
a. no tariffs b. low tariffs c. high tariffs d, equal tariffs for all nations