One way to tell if a nation's economic and political ideologies have promoted economic growth is:
a. To see if real GDP in the nation has grown faster than the real GDP in nations with substantially different ideologies.
b. To take a poll that asks people on the street how they feel about the economy and their government. If they are generally satisfied with their living standards and say they like their government, then the ideology must have a positive influence.
c. To rank order the countries having both positive economic growth and balance of payments surpluses and then to see if the top nations have similar or different ideologies.
d. To see if there is any part of the change in real GDP that is not explained by changing inputs.
e. None of the above.
.D
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Producing an amount of GDP equal to potential GDP is most consistent with the economy producing
A) either on or within the production possibilities frontier. B) on the production possibilities frontier. C) beyond the production possibilities frontier. D) either on or beyond the production possibilities frontier. E) within the production possibilities frontier.
A rise in deposit rates, all else constant, __________ a bank's __________ risk
A) lowers; credit B) lowers; interest rate C) raises; credit D) raises; interest rate
Lorenz curves supposedly reflect the disparities of standards of living among people living in a society but they cannot take into account factors that can greatly affect the disparities. Among them are all the following except
a. the size of population b. the availability of public housing and housing subsidies c. national health care systems d. national education systems e. social security programs
Suppose the market for good X has a four-firm concentration ratio of 0.50. Furthermore, assume that total sales in the industry are $1.2 million. Based on this information, we know that sales for the largest four firms in the industry equal (in aggregate):
A. $2,400,000. B. $240,000. C. $600,000. D. $60,000.