When the IMF provides loans to developing countries, it often requires these countries to adopt:
A. a contractionary fiscal policy and an expansionary monetary policy.
B. contractionary monetary and fiscal policies.
C. expansionary monetary and fiscal policies.
D. a contractionary monetary policy and an expansionary fiscal policy.
Answer: B
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During 1970-1997, the U.S. federal government was
A) in deficit every year. B) in surplus every year. C) in deficit most of those years. D) balanced every year.
In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would
A) move the point of production along the production possibility curve. B) shift the production possibility curve outward, and increase the production of both goods. C) shift the production possibility curve outward and decrease the production of the labor-intensive product. D) shift the production possibility curve outward and decrease the production of the capital-intensive product. E) shift the possibility curve outward and displace preexisting labor.
An autonomous expenditure is one that does not depend on:
A) government policy B) the automobile sector C) interest rates D) GDP
Which of the following statements is correct?
A. The long-run supply curve for a purely competitive increasing-cost industry will be upsloping. B. The long-run supply curve for a purely competitive increasing-cost industry will be perfectly elastic. C. The long-run supply curve for a purely competitive industry will be less elastic than the industry's short-run supply curve. D. The long-run supply curve for a purely competitive decreasing-cost industry will be upsloping.