When individuals concentrate on a limited number of productive activities, this is known as
a. shirking
b. productive inefficiency
c. exchange
d. specialization
e. an economic system
D
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The federal funds rate is the interest rate:
a. On U.S. interbank loans. b. The Federal Reserve changes banks that borrow from it. c. The World Bank charges to central banks. d. Central banks charge individuals. e. U.S. financial institutions pay to their best (i.e., largest) depositors.
Suppose the annual growth rate of GDP in Nepal is 5 percent. In 35 years, GDP in Nepal will double:
A. 1.75 times. B. 2.5 times. C. 7 times. D. 24.5 times.
Suppose market demand and supply are given by Qd = 100 - 2P and QS = 5 + 3P. The equilibrium price is:
A. $19. B. $20. C. $15. D. $17.
How much is the output gap if short-run output is $18.0 trillion and potential output is $18.0 trillion?
What will be an ideal response?