One of the first issuances of stock was offered by the:
A. East India Company.
B. South Seas Company.
C. Apple Company.
D. North Seas Company.
A. East India Company.
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According to the real business cycle theory, which of the following is a TRUE statement about the effects of an oil shock in the 1970s?
A) Relative prices changed but there was no impact on the price level in general. B) The natural rate of unemployment remained unchanged, but employment levels did decline. C) The shock shifted the short-run aggregate supply curve but not the long-run aggregate supply curve. D) The shock affected real variables only and did not affect nominal variables.
Suppose the economy is in long-run equilibrium at the level of potential output. What will be the long-run effect of an expansionary monetary policy?
a. a higher price level b. a higher level of real output c. both a higher price level and a higher level of real output d. a lower price level e. a lower level of real output
A famous American has been visiting the same tropical island for 15 years for vacations. When she goes she pays for everything by writing checks drawn on her U.S. bank. The currency the natives use are not U.S. dollars; they use a currency called a fungo. The natives never cash her checks. She is so well known on the island that the natives simply trade her checks among themselves. The question you need to answer, complete with an explanation, is: who is paying for her vacation? (You can assume her bank would honor the checks if presented for payment even after a considerable period of time has passed.)
What will be an ideal response?
Explain why macroeconomic policies that are coordinated can enhance economic growth, but why policies that are not coordinated can increase global imbalances
What will be an ideal response?