Workers in high-income countries have ________ to work with than do workers in low-income countries
A) less physical capital
B) more physical capital
C) more labor
D) more labor and less physical capital
Answer: B
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In 1945–52, the records show that falling price levels stimulated increases in real Gross National Product (GNP)
Indicate whether the statement is true or false
When a negative externality exists in the case of a particular good, and if that is not reflected in the price, _____
a. too little of that good is produced and consumed b. too much of that good is produced and consumed c. all resources are taken away from the production of that good d. the government completely prohibits the consumption of that good e. all resources are allocated to the production of that good
Which of the following is an example of how incentive structures contributed to the collapse of investment banks?
a. The bonus structures of most executives were tied to short-term profitability. b. The rating agencies acted independently in assigning ratings to mortgage-backed securities and had no incentive to understate the risks. c. Mortgage-backed securities were closely scrutinized in order to minimize risk and obtain higher ratings. d. Despite SEC regulations, investment banks kept leverage ratios low in order to increase profits.
Which is an example of expansionary fiscal policy?
A) A lowering of tax rates B) A lowering of government spending C) An increase in the discount rate D) An increase in the federal funds rate E) An increase in reserve requirements