Systematic efforts to extend vaccination throughout the world have produced a situation today in which the smallpox virus is
A) in short supply (a shortage exists).
B) rare.
C) scarce.
D) all of the above.
B
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There will be gains from trade when
A. the buyer values a product more highly than the seller. B. money is used as a medium of exchange. C. both the buyer and the seller attach the same value to the product. D. the buyer values a product less highly than the seller.
Producer groups tend to lobby for
A) price floors. B) price ceilings. C) quantity quotas. D) taxes.
Which of the following annual real GDP growth rates would be needed just to maintain output per capita in the United States?
a. 10.0 percent b. 2.5 percent c. 1.0 percent d. 7.0 percent e. 3.5 percent
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real GDP and reserves account in the context of the Three-Sector-Model? a. Real GDP rises and reserves account becomes more negative (or less positive)
b. Real GDP falls and reserves account remains the same. c. Real GDP and reserves account remain the same. d. Real GDP rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.