Development economics is the study of the
a. alleviation of absolute poverty.
b. transformation of institutions.
c. allocation of resources in developing countries.
d. all of the above.
D
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Approximately what percentage of the world population experiences scarcity?
A) 33% B) 50% C) 66% D) 100%
Which of the following would cause the money demand curve to shift to the left?
A) a decrease in real GDP B) an increase in the interest rate C) an increase in the price level D) an open market purchase of Treasury securities by the Federal Reserve
In the economic literature on principal-agent problems, the ________ is the person who takes some action, and the ________ is the person whom the action affects
A) agent, principal B) principal, agent C) Both statements describe the agent. D) Both statements describe the principal.
The __________________ traces the flow of money, resources, and goods and services through the economy.
Fill in the blank(s) with the appropriate word(s).