The circular flow model is not used anymore because it fails to perfectly replicate real world situations
a. True
b. False
Indicate whether the statement is true or false
False
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If as a result of NAFTA the demand for American exports rises, it would tend to increase the exchange value of the U.S. dollar as a result
a. True b. False Indicate whether the statement is true or false
The experience of Ireland in the last four decades indicates that in order to achieve high rates of economic growth countries must
a. hold free (democratic) elections b. maintain a government expenditure/GDP ratio of at least 40 percent. c. restrain the growth of government, keep taxes low, remove trade barriers, and follow a monetary policy consistent with price stability. d. obtain financial aid from foreign governments in order to get the growth process started.
MV in the equation of exchange is also defined as
A) national income. B) total expenditures. C) personal income. D) Real GDP.
If MUA/PA> MUB /PB, an individual should choose to consume more of good A.
Answer the following statement true (T) or false (F)