Recall the Application about the effectiveness of committees in making decisions about monetary policy to answer the following question(s). Recall the Application. The experiment conducted by Blinder showed that the actual process of having committee meetings and discussions:
A. tended to polarize the group into two distinct factions.
B. improved the group's overall performance.
C. magnified the individual group members' differences.
D. related to the average performance of the individual group members.
Answer: B
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The types of problems in principal-agent relationships typically include
a. adverse selection - whom to hire b. moral hazard - how to motivate workers c. uncertainty - how many workers will be needed d. A and B
Suppose that the exchange rate between Mexican pesos and dollars is 8 pesos per dollar. If the exchange rate goes to 6 pesos per dollar, it would tend to: a. increase U.S. exports to Mexico
b. decrease U.S. exports to Mexico. c. increase Mexican exports to the rest of the world. d. decrease Mexican exports to the rest of the world.
One of the important conditions needed for economic growth is
a. rule of law. b. strong government. c. high average income. d. large government safety net.
In 2014, China had accumulated approximately $3.8 trillion worth of reserve assets. These $3.8 trillion entered into China's 2014 balance of payments in the:
a. Trade balance. b. Balance on goods and services. c. The total amount did not enter into China's balance of payments. Only changes enter the balance of payments. d. Reserve Account.