East Asia's crisis was relatively long lived because
A) East Asia's financial institutions had encouraged borrowing all together.
B) East Asia's financial institutions had encouraged heavy borrowing in local currency.
C) East Asia's financial institutions had extended low-interest loans.
D) East Asia's financial institutions had extended high-interest loans.
E) East Asia's financial institutions had encouraged heavy borrowing in dollars.
E
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According to the economic theory of labor markets, new lawyers are eager to fill clerkships for judges, even at a miniscule wage, because:
a. the clerkship enhances future earnings possibilities. b. the total utility of nonmarket work and leisure is lower in case of clerkship. c. the income effect is smaller than the substitution effect for the higher-paying job. d. the income effect is equal to the substitution effect for the higher-paying job.
Assume that we want to drive our economy out of recession by generating a $400 billion change in real GDP. The MPC is 0.80. Which of the following policy prescriptions would generate the targeted $400 billion change in income?
A. $120 billion increase in government spending and $50 billion increase in tax revenue. B. $140 billion increase in government spending and $70 billion increase in tax revenue. C. $160 billion increase in government spending and $120 billion increase in tax revenue. D. $220 billion increase in government spending and $100 billion increase in tax revenue.
Refer to the information provided in Figure 28.6 below to answer the question(s) that follow.
Figure 28.6Refer to Figure 28.6. Panel A represents the typical shape of the
A. short-run Phillips curve. B. long-run Phillips curve. C. short-run aggregate supply curve. D. long-run aggregate supply curve.
The Patient Protection and Affordable Care Act (PPACA) of 2010 is more commonly known as:
A. Dodd Frank B. Obamacare C. Stimulus spending D. Quantitative easing (QE)