An issue that proposals for international reform agree on is that
A) the IMF should intervene more in financial crises.
B) there must be a lender of last resort.
C) IMF quotas are currently set at an appropriate level.
D) the Basel capital requirements for banks should be increased.
B
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According to the Ricardo-Barro effect, government deficits
A) lead to a rise in the equilibrium real interest rate, crowding out investment. B) lead to simultaneous increases in private saving and no effect on the equilibrium real interest rate and investment. C) lead to simultaneous decreases in private saving and decreases in the equilibrium real interest rate and investment. D) lead to a fall in the equilibrium real interest rate and a rise in investment.
Excess supply of dollars in the foreign exchange market represents a balance of payments deficit in the U.S
Indicate whether the statement is true or false
Under a liquidity trap in the New Keynesian model,
A) prices cannot be sticky. B) monetary policy is ineffective. C) the economy is always efficient. D) fiscal policy is ineffective.
Exhibit 10-1A perfectly competitive producer has the following short-run average cost curve and marginal cost curve:SR AC = 2Q + 3MC = 4Q + 3where costs are measured in dollars and Q represents the firm's output in units. If the market price of wangdoodles is $15 each, the profit-maximizing producer whose short-run cost curves are given in Exhibi should produce ____ wangdoodles.
A. 0 B. 3 C. 6 D. 15