Real assets are created by:
A. real economic activity, such as the construction of a house.
B. government intervention.
C. borrowing and lending.
D. the agreement by individuals to exchange financial assets for financial liabilities.
Answer: A
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The tradeoffs and connections between the goals of macroeconomics may be ___________ in the short run and the long run.
a. similar b. different c. identical d. problematic
Which of the following would be an example of an unemployed resource?
a. John has been laid off from his job as an auto mechanic. b. Betty, a computer specialist, takes a job as a hotel maid. c. Mary, a senior citizen, receives a social security check. d. Sam, 10 years old, is in the fifth grade. e. a 10-year-old computer is now only used as a word processor.
According to William Safire, “helpfulism” is basically protectionism.
Answer the following statement true (T) or false (F)
In the United States in the late 1970s, nominal interest rates were high and inflation rates were very high. As a result, real interest rates were
a. very high. b. high. c. low, but never negative. d. low, and in some years they were negative.