Provide a concise statement on the relationship between the debt crisis and:
(a) foreign direct investment, (b) trade liberalization, (c) absolute poverty, and (d) investment levels.
May be asked as a long essay or subdivided into short essays. Answers will depend on what you cover in lecture.
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If nominal GDP in 2012 was less than real GDP in 2012, we know for certain that
A) the price level in 2012 was greater than the price level in the base year. B) real GDP in 2012 was greater than real GDP in the base year. C) the price level in 2012 was less than the price level in the base year. D) real GDP in 2012 was less than real GDP in the base year.
When the Federal Open Market Committee buys government securities:
a. the reserve requirement of banks decrease. b. the reserve deposits of banks decrease. c. the excess reserves of banks increase. d. the federal funds rate increases. e. the legal reserves of banks decrease.
Some years ago New York City imposed rent controls in an effort to provide housing at "fair" prices for as many people as possible. The result was a serious shortage of housing and deterioration of existing rental properties. How would an economist have described the result in terms of economic efficiency?
In the benchmark competitive case, the firm will expand the hiring of employees until the marginal revenue product is
A. equal to the market wage rate. B. greater than the market wage rate. C. the square of the market wage rate. D. less than the market wage rate.