The Board of Governors consists of
A. 50 members, appointed for 7-year terms.
B. 7 members, appointed for 14-year terms.
C. 26 members, appointed for 2-year terms.
D. 14 members, appointed for 7-year terms.
Answer: B
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All of the following are sources of funding for capital goods in developing countries EXCEPT
A) portfolio investment. B) taxation. C) foreign direct investment. D) loans from banks.
The fact that resources tend to be specialized is one reason the production possibilities frontier is drawn
a. bowed outward. b. bowed inward. c. as a straight line (but not horizontal). d. as a horizontal straight line.
The implementation of choice architecture that alters people's behavior in a deliberate and predictable way without changing economic incentives much is called:
A. shifting. B. influencing through choice. C. baiting. D. nudging.
Ability bias can arise when estimating compensating wage differentials associated with various job characteristics. What is ability bias in this context?
A. High-skilled workers are likely to have higher wages than unskilled workers but to have worse job amenities. B. High-skilled workers are likely to have higher wages than unskilled workers, but they are also likely to trade some of their higher wages for better job amenities. C. High-skilled workers are likely to have lower wages than unskilled workers but to have better job amenities. D. Low-skilled workers are likely to have low wages but good job amenities. E. High-skilled workers are likely to have high wages but poor job amenities.