When an American doctor opens a practice in Bermuda, his production there is part of U.S. GNP
a. True
b. False
Indicate whether the statement is true or false
True
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Which is true regarding cyclical unemployment? i. Cyclical unemployment is positive at business cycle peaks. ii. Cyclical unemployment is negative at business cycle troughs. iii. Cyclical unemployment is zero at full employment
A) iii only B) i, ii and iii C) i and iii D) i only E) i and ii
The market where currencies may be bought and sold for immediate delivery is known as
A) the forward exchange market. B) the spot exchange market. C) the purchasing power market. D) the futuristic exchange market.
Any policy change that results in a Pareto-superior allocation
A) will increase welfare under certain conditions. B) must increase welfare. C) will leave welfare unchanged. D) will have an unpredictable effect on welfare.
The Federal Reserve can increase aggregate demand by:
A. Reducing the money supply B. Reducing the discount rate C. Raising the reserve requirement D. Selling government securities in the open market