Which of the following would be most likely to improve the standard of living of a less-developed country?
What will be an ideal response?
more foreign investment, attracted by the expectation of economic and political stability
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Which of the following is TRUE?
A) When resources are allocated on the basis of personal characteristics, all people who are willing and able to pay the price get the resource. B) When the range of activities to be monitored is large and complex, a command system allocates resources better than a market price. C) When a market price allocates resources, some people who are willing and able to pay that price don't get the resource. D) Force helps support the legal system on which markets function.
Real interest rates are
A) procyclical, just like nominal interest rates. B) acyclical, while nominal interest rates are procyclical. C) acyclical, just like nominal interest rates. D) countercyclical, while nominal interest rates are procyclical.
Inflation has never been a major problem in the U.S
a. True b. False
A rise in prices of imported resources will cause aggregate:
a. Demand to decrease b. Supply to increase c. Supply to decrease d. Demand to increase