All of the following are depository institutions, except:
A. insurance companies.
B. savings banks.
C. credit unions.
D. commercial banks.
Answer: A
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Assuming that a society always operates on its production possibilities curve, an inward shift of the curve implies that
A. the country's capacity to produce is fixed. B. the country is not using its resources efficiently. C. the country's capacity to produce has contracted. D. All of the choices are true.
Which one of the following is an area of continued disagreement among modern macroeconomists with regard to the use of fiscal policy?
What will be an ideal response?
If the marginal propensity to consumer is 0.8, the spending multiplier must be:
A. 5 B. 1.2 C. 1.8 D. 2
The demand for oil rig workers off the coast of Louisiana is the same as the demand for oil pipeline workers in North Dakota. The annual earnings of Louisiana oil rig workers is 22% higher than the earnings of North Dakota oil pipeline workers. A possible explanation for this is
A. the amount of human capital needed to be a pipeline worker must be greater than the amount of human capital necessary to be an oil rig worker. B. being an oil rig worker in Louisiana must be more dangerous than being a pipeline worker in North Dakota. C. Louisiana oil rig workers can work only part of the year, but North Dakota oil pipeline workers can work year round. D. Louisiana oil rig workers must face discrimination that is not encountered by North Dakota oil pipeline workers.