The Fed classifies different types of money depending on its:
A. commodity back.
B. intrinsic value.
C. resale value.
D. liquidity.
Answer: D
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What explains the sharply divergent long-run growth patterns?
What will be an ideal response?
The Lorenz curve demonstrates:
A. inequality visually; the more linear the curve, the less inequality exists. B. inequality visually; the more linear the curve, the more inequality exists. C. average income levels per capita; the more linear the curve, the less inequality exists. D. average income levels per quintile; the more linear the curve, the more inequality exists.
Economists define "efficiency" as the absence of waste
a. True b. False Indicate whether the statement is true or false
For a major country with extensive capital flows, what is the effect of an increase in interest rates?
a. There will be an inflow of capital, a currency depreciation, and increased net exports. b. There will be an inflow of capital, a currency depreciation, and reduced net exports. c. There will be an outflow of capital, a currency depreciation, and increased net exports. d. There will be an inflow of capital, a currency appreciation, and reduced net exports.