During 1980 through 2010,
a. the per capita income of high-income industrial countries declined.
b. the fastest growing economies in the world were LDCs.
c. almost all LDCs grew more rapidly than the high-income industrial economies.
d. most of the countries with rapid growth rates during the last two decades were located in South America.
B
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The measure of the money supply M1 includes all of the following except
A. Currency in circulation. B. Balances in transactions accounts. C. Travelers checks. D. Balances in savings accounts.
Which of the following is an example of a transaction that is made even though complete information is not possible?
A. Joe buys a puppy in hopes that the puppy will be his hiking companion for the next 20 years. B. Mike saves his money by putting it in a mutual fund. C. Alex buys house insurance and has never filed a claim. D. All of these are examples of transactions that must be made with incomplete information.
An advantage of the gold standard was that it allowed currencies to freely float against each other
a. true b. false
Refer to the information provided in Figure 3.11 below to answer the following question(s).
Figure 3.11Refer to Figure 3.11. An increase in the wage rate of gardenburger makers will cause a movement from Point B on supply curve S2 to
A. Point C on supply curve S2. B. supply curve S3. C. Point A on supply curve S2. D. supply curve S1.