Which of the following has contributed to developing countries' poor economic performance?
A. low population growth
B. a high saving rate
C. corruption
D. foreign direct investment
Answer: C
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When all else is held constant, during recessions government
(a) revenues and expenditures increase. (b) revenues increase and expenditures decrease. (c) revenues decrease and expenditures rise. (d) revenues and expenditures decrease.
In the short run, if prices were below equilibrium,
a. excess aggregate demand for goods and services would place downward pressure on prices. b. excess aggregate supply of goods and services would place downward pressure on prices. c. excess aggregate demand for goods and services would place upward pressure on prices. d. excess aggregate supply of goods and services would place upward pressure on prices.
If the real interest rate is above zero, we know that the nominal interest rate must be:
A. lower than the inflation rate. B. higher than the inflation rate. C. equal to the inflation rate. D. zero.
The two economic conflicts between the North and the South that led to the Civil War were (1) _________________ and (2) ________________.
Fill in the blank(s) with the appropriate word(s).