If a country has a high level of income, it likely has:
A. high levels of physical capital.
B. a highly productive work force.
C. widespread access to technology.
D. All of these are true.
Answer: D
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From the data in the above table, GDP equals
A) $1,120. B) $1,280. C) $1,290. D) $1,360.
Assume that the Paris First National Bank has deposits of $20 million. If the legal reserve requirement is raised from 20 percent to 40 percent,
a. excess reserves will automatically decrease by $20 million b. required reserves will decrease from $16 million to $12 million c. excess reserves will automatically increase by $20 million d. Paris First National Bank must close out 4 million in loans e. Paris First National Bank must increase its required reserves from $4 million to $8 million
One U.S. Senator promises to vote for a measure that another U.S. Senator wants only if the favor is returned in kind. This is an example of
A) rational ignorance. B) median voter politics. C) logrolling. D) public interest talk. E) none of the above
At a level of real disposable income of $10,000, suppose consumption is $11,000. Given this information, we know with certainty that saving equals
A. -$1,000. B. $1,000. C. $11,000. D. $0.