If a country starts with a surplus in its official settlements balance, intervention to defend a fixed exchange rate will cause
A. both the money supply and the economy to contract.
B. the money supply to grow and the economy to contract.
C. the money supply to expand and the economy to grow.
D. the money supply to contract and the economy to grow.
Answer: C
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The ________ nature of economic growth is one of the major reasons why there are large differences in GDP per capita across countries
A) linear B) quadratic C) exponential D) logarithmic
Indifference curves
a. are nonintersecting. b. are contour lines of a utility function. c. are negatively sloped. d. All of the above.
Which of the following is characteristic of firms operating in an oligopoly market?
a. either homogeneous or differentiated products b. mutual interdependence among firms c. significant barriers to entry d. All of the above characterize oligopoly firms.
Using the growth accounting equation, if the growth rate of output is 5%, the growth of labor is 2% and the growth of capital is 2% then if ?=0.50 then growth of technology can be estimated to be:
A. 4.00%. B. 4.25%. C. 4.75%. D. 3.00%.