Argentina's financial crisis was due to
A) poor supervision of the banking system.
B) a lending boom prior to the crisis.
C) fiscal imbalances.
D) lack of expertise in screening and monitoring borrowers at banking institutions.
C
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During the Christmas shopping season, the demand for money increases significantly. If the Fed takes no actions to offset the increase in money demand, then nominal interest rates will:
A. equal the real interest rates. B. increase. C. remain constant. D. decrease.
Corporate governance involves the way in which
A) the government licenses corporations. B) a corporation is structured. C) the government nationalizes corporations. D) a corporation is subject to government regulations.
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who conclude that money illusion is widespread. D) economists who conclude that wages and prices are inflexible.
Assume a new technology further reduces the cost of producing calculators. Also assume that consumers have cut back on their scheduled purchases in anticipation of even more cost-saving developments. As a result, we can expect
a. a decrease in price but no predictable change in output. b. a decrease in output but no predictable change in price. c. an increase in output but no predictable change in price. d. a predictable decrease in both output and price.