Which of the following is true for the European Central Bank (ECB)?
A) its executive board meets less often than the FOMC
B) the members of its executive board have lifetime appointments
C) it is a more decentralized system than the Federal Reserve
D) all of the above
E) none of the above
C
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As of 2010, the Gini coefficient was 33.9 in India and 40.8 in the United States. We can interpret this to mean that inequality:
A. is greater in India than the United States. B. is greater in the United States than in India. C. is about the same in the two countries. D. is not a problem in either country.
Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to real GDP and current international transactions in the context of the Three-Sector-Model?
a. Real GDP falls, and current international transactions become more negative (or less positive). b. Real GDP rises, and current international transactions become more negative (or less positive). c. Real GDP and current international transactions remain the same. d. Real GDP rises, and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
An inequality trap has a negative impact on human capital development.
Answer the following statement true (T) or false (F)
A family sells the house they have lived in for two years to a friend. They received $300,000 and paid $100,000 three years ago. This transaction
A. increases GDP by $200,000. B. has no effect on GDP because the house was not built this year. C. increases GDP by $100,000. D. has no effect on GDP because the buyer is the family's friend.