Answer the following questions true (T) or false (F)
1. The key to sustained economic growth is increasing labor productivity.
2. Market economies tend to grow more quickly than centrally-planned economies.
3. Economic growth depends more on technological change than on increases on capital per hour worked.
1. TRUE
2. TRUE
3. TRUE
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If bank reserves are 200, the public holds 400 in currency, and the desired reserve/deposit ratio is 0.20, the deposits are ________ and the money supply is ________.
A. 400; 800 B. 200; 600 C. 600; 1,000 D. 1,000; 1,400
What are the defining features of monetarist macroeconomics and what policies do monetarist macroeconomists recommend?
What will be an ideal response?
In the United States, the current dollar price of transplantable organs is: a. zero
b. indeterminate. c. determined by the market mechanism. d. dependent on the supply of organs.
Nontradables are cited as a reason why purchasing power parity doesn't hold because:
A. there is no economic opportunity to profit if the goods cannot be sold in another market for another price. B. location-specific goods are impossible to calculate a price elsewhere for. C. goods that you can't transport cannot be sold for a profit elsewhere, even if the price differs in different locations. D. All of these statements are true.