________ policies refer to government programs designed to exploit natural comparative advantage by increasing production of a few export goods most closely related to a country's resource base
A) Comparative advantage
B) Primary-export-led development
C) Import-substitution development
D) Inward-looking development
B
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If the actual reserve/deposit ratio equals 8% and the desired reserve/deposit ratio for this bank is 10%, the bank should:
A. send the extra reserves to the central bank. B. stop making loans. C. make more loans in order to earn interest. D. do nothing because this is a profitable situation.
In one-input models, all technologically efficient production plans are economically efficient and vice versa.
Answer the following statement true (T) or false (F)
Which of the following topics is a macroeconomic subject?
A) a proposed merger between two companies B) the level of sales at a particular department store C) increases in the overall price level of the United States D) the decision of an automobile manufacturer
By invoking the assumption of ceteris paribus, economists
A. isolate the impact of one single variable while holding all other variables constant. B. consider the impact of all relevant factors. C. hold all variables constant when analyzing a model. D. exclude irrelevant detail when analyzing a model.