Because of its vast oil reserves, Saudi Arabia is a rich country. Saudi Arabia exemplifies the general fact that differences in __________ are responsible for some of the differences in standards of living around the world
Fill in the blank(s) with correct word
natural resources
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J-curve effects following a devaluation are simply a theoretical issue with no real world importance
Indicate whether the statement is true or false
The IS curve would be vertical if
A) the government's budget was balanced. B) autonomous expenditures were insensitive to the interest rate. C) the demand for money was insensitive to the interest rate. D) the government increased the money supply.
In the above figure, without a minimum wage, the equilibrium quantity of labor employed ________ million hours, and the equilibrium wage rate is ________ per hour
A) 100; $2 B) 200; $4 C) 300; $6 D) 400; $8
A possible sequence for the three stages of a financial crisis might be ________ leads to ________ leads to ________
A) asset price declines; banking crises; unanticipated decline in price level B) unanticipated decline in price level; banking crises; increase in interest rates C) banking crises; increase in interest rates; unanticipated decline in price level D) banking crises; increase in uncertainty; increase in interest rates