Among countries with per capita GDP in 2006 of less than $2,000,
A. central banks tend not to be independent.
B. rates of basic literacy tend to be low.
C. the government tends to be relatively corrupt.
D. all of the options are correct.
Answer: D
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According to the Taylor, if there is an expansionary gap of 2 percent of potential output and inflation is 3 percent, what real interest rate will the Fed set?
A. 0.015 B. 0.02 C. 0.035 D. 0.025
Refer to the scenario above. If both firms operate without government intervention:
A) total costs are maximized. B) total profits are maximized. C) marginal revenues of both the firms are maximized. D) marginal revenues of both the firms are minimized.
In the 19th century, the federal government:
a. allocated funds to help build steamboats. b. passed laws requiring steamboat boiler inspections. c. required steamboat captains to undergo training in order to receive an operating license. d. regulated the fees that steamboats could charge for carrying freight. e. All of the above.
Which of the following is false?
A. Keynes believed that the economy was basically unstable. B. The classical economists believed that full employment was a "rare occurrence". C. Keynes argued that the expected rate of profit was the most important factor in determining the level of investment demand in an economy. D. The classical economists used the laws of supply and demand to prove the validity of Say's Law.