Historical analysis of real interest rates in the United States shows that
A) real interest rates were unusually low in both the 1970s and 1980s.
B) real interest rates were unusually high in both the 1970s and 1980s.
C) real interest rates were unusually low in the 1970s and unusually high in the 1980s.
D) real interest rates were unusually low in the 1980s, spurring the economic growth that occurred during the Reagan administration.
C
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A VRA is an example of
A) a "voluntary" quota. B) a tariff. C) an illegal foreign good. D) an illegal foreign tariff.
The difference between individual and aggregate demand is
a. Individual demand is the total demand of all the individuals in a market b. In the aggregate demand, each point represents a single consumer's different values for a single unit of the good c. In the aggregate demand, each point represents a consumer group's value of the good d. All of the above
In a market economy, which of the following is most important if one is going to achieve high earnings?
a. performing an important social function, like teaching. b. willingness to do hard physical work. c. having a membership in a labor union. d. providing goods and/or services that others value highly
Which of the following is not an important objective of development?
a. increases in per capita income b. the expansion of available choices c. increases in individual and national self-esteem d. all of the above are important objectives of development