One of the keys to reducing poverty is
A. Increased population growth.
B. The redistribution of existing incomes.
C. Increased economic growth.
D. Government control of resources.
Answer: C
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Differentiate between the current account balance and the capital account balance
Between 1998 and the end of 2000, the U.S. ran a large trade deficit; this should have caused the dollar to depreciate against foreign currencies but instead the dollar appreciated. The main reason for this is:
A. the dramatic increase in U.S. stock prices attracted a lot of foreign capital increasing the demand for dollars by more than the increase in the supply of dollars. B. the supply of dollars actually fell. C. the demand for dollars shifted left by more than the supply of dollars shifted right. D. foreign exchange markets are slow to react.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
All of the following are examples of institutions that promote real economic growth EXCEPT
A. strong law enforcement used to protect business interests. B. patent laws that protect innovation. C. complex rules associated with business licensing used to promote careful business growth. D. an efficient judicial system used to enforce contracts.