Which of the following has contributed to developing countries' poor economic performance?
A) low population growth
B) corruption
C) high capital investment
D) foreign direct investment
B
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The immediate, direct effect of someone's cashing a check at a commercial bank is
A) a decrease in the stock of money (M1). B) an increase in the stock of money (M1). C) no change in the stock of money. D) unknown until the check casher spends the currency withdrawn from the bank.
You purchase a bag of chocolate chips for $3, a bag of flour for $1, a bag of sugar for $.50, a half dozen eggs for $.50, and a half pound of butter for $2. You use all these ingredients to make three dozen cookies. Your roommate offers you $15 for them, and you happily accept. How much does this process contribute to GDP?
A. $7 B. $15 C. $22 D. $8
Suppose a firm finds that it must raise wages for all of its workers every time it tries to expand its workforce. This means
A. The marginal factor cost curve is below the average cost of labor curve. B. The firm has market power. C. The labor market is perfectly competitive. D. It will produce more than it would in a competitive labor market.
Which statement is true?
A. The Fed can induce people to buy United States government securities, but it can't induce them to sell. B. The Fed can induce people to sell United States government securities, but it can't induce them to buy. C. The Fed can induce people to buy and sell United States government securities. D. The Fed cannot induce people to buy or sell United States government securities.