In the late 19th century, the chief railroad terminus was:
a. New York.
b. Chicago.
c. New Orleans.
d. St. Louis.
b. Chicago.
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Which of the following uses of tax revenues collected by the government leads to increased capital deepening in the United States?
A) subsidizing airport construction in Seattle B) foreign aid given to Mexico to build new schools C) providing food to a nation suffering from a famine D) higher salaries for members of Congress
If the Phillips curve was nearly horizontal, a: a. substantial increase in inflation would be caused by a decrease in unemployment
b. substantial decrease in inflation would be caused by a decrease in unemployment. c. substantial decrease in unemployment could be achieved with only a small increase in inflation. d. substantial increase in unemployment could be achieved with only a small increase in inflation.
The IMF offers loans to developing countries in times of balance of payment constraints, but the IMF also faces strong criticisms because:
A. contractionary fiscal policy and expansionary monetary policy tend to be ineffective against balance of payment constraints. B. contractionary fiscal and monetary policies are always undesirable for any developing country. C. it employs economists that know little about developing countries and their economic affairs. D. the conditions tend to be procyclical, therefore worsening the recessions.
Could the advent of the internet completely eliminate frictional unemployment?
What will be an ideal response?