The Argentinian crisis of 2001 was characterized by:
A. increasing interest rates.
B. international investors losing confidence and shifting the demand for loanable funds to the right.
C. government debt becoming more expensive, shifting savings to the left.
D. All of these statements are true.
Answer: D
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"Brain-drain" refers to the:
A. Relatively low levels of human capital in low-income countries B. Impact of migration on human capital levels in high-income countries C. Emigration of highly educated workers to higher income countries D. Inability of workers in low-income countries to achieve the levels of human capital possessed by workers in high-income countries.
Average labor productivity is determined by:
A. the number employed, unemployed, and the labor force participation rate. B. consumption, investment, government spending, and net exports. C. the real interest rate, the nominal interest rate, and the rate of inflation. D. the quantity and quality of human capital, physical capital, technology, natural resources, entrepreneurship, and the legal and political environment.
Refer to the above table. How do we know that this is not a competitive firm?
A) The marginal physical product decreases as the amount of labor hired increases. B) The marginal revenue changes as output changes. C) The marginal revenue product decreases as the amount of labor increases. D) Marginal physical product cannot be computed for competitive firms.
The price of one good produced by a multiproduct industry rises. For another good produced by that industry
a. the supply curve will shift to the left. b. the supply curve will remain constant. c. the supply curve will shift to the right. d. the demand curve will shift to the right.