What are remittances and what role do they in developing countries? How could this potentially benefit an economy?
What will be an ideal response?
An answer should pose a definition, mention how remittances reduce poverty for many migrants and their families, and speak to the possible net increase in labor force skills driven by the desire to emigrate.
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In the above figure, if the relevant aggregate demand curve is AD2, what type of gap exists and how large is it?
A) inflationary gap of $1 trillion B) recessionary gap of $500 billion C) inflationary gap of $500 billion D) recessionary gap of $1 trillion
Persistent current account deficits in the United States
A) cause persistent declines in investment in the United States. B) will eventually cause the value of the dollar to rise. C) can be seen as a vote of confidence in the strength of the U.S. economy. D) cause U.S. investors to accumulate more foreign assets than foreign investors accumulate U.S. assets.
In the next several decades, the dependency ratio relevant to the Social Security system is expected to ________
A) remain largely unchanged B) rise C) fall D) fluctuate unpredictably
During the American Revolution, Washington's army nearly starved to death after price controls were enacted to "help" buy food for the army at affordable prices. The Continental Congress later passed a law which
a. exhorted the public to obey the law and help supply food to the army. b. passed tax increases to punish those who refused to sell the food. c. revised the American Law of Supply and Demand. d. overrode local ordinances and essentially repealed the price controls. e. called for the repeal of other price control measures.