The three pillars of productivity growth does not include an
A. increase in the rate at which the economy builds up its stock of capital.
B. increase in population.
C. increase in the rate at which technology improves.
D. increase in the rate at which workforce quality improves.
Answer: B
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The above figure shows the production possibility frontier for an economy. The point or points that are not attainable are
A) points B and C. B) points A, B, and C. C) point E. D) points A, B, C, and D. E) points A and D.
Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money. B) is backed by gold. C) is authorized by a central bank or governmental body. D) serves as a medium of exchange.
The quality of a product
A) is usually unknown to the seller and the buyer. B) leads to adverse selection. C) creates noise in a market. D) is a hidden characteristic.
Which of the following entities actually executes open-market operations?
a. the Board of Governors b. the New York Federal Reserve Bank c. the Federal Open Market Committee d. the Open Market Committees of the regional Federal Reserve Banks