Human capital shortages are not a barrier to economic growth in developing countries.
Answer the following statement true (T) or false (F)
False
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________ in the currency drain ratio and ________ in the desired reserve ratio ________ the money multiplier
A) An increase; a decrease; increase B) A decrease; a decrease; increase C) A decrease; an increase; decrease D) An increase; an increase; increase E) An increase; a decrease; decrease
In December 2010, Kansas had a severe ice storm that caused electrical blackouts. The Fictitious Portable Generator firm of Lawrence had several portable generators that could be used by homeowners to provide electricity
Which of the following would be the fair-rules way to provide them? A) The government confiscates the generators owned by Fictitious and distributes them. B) Fictitious is forced by the state to rent the generators at half the normal rate. C) The state sets up a lottery to determine who rents the available generators at the normal rate. D) Fictitious rents generators at the equilibrium market price. E) Fictitious follows government commands about who gets to use the generators.
Explain what is meant by "in-kind transfer" programs. Briefly outline the advantages and disadvantages of an in-kind transfer program
Answer the following statements true (T) or false (F)
1. If society has over-allocated resources to a particular activity, then the marginal benefits of the activity would be less than the marginal costs. 2. A nation's production possibilities curve shows the maximum combinations of resources that a nation can use. 3. A reduction in the unemployment rate will cause the nation's production possibilities curve to shift outwards. 4. Economic growth is shown as an increase in production from inside the production possibilities curve out toward a point on the possibilities curve.