Net unilateral transfers would appear in a nation's
A) current account.
B) capital account.
C) official reserve transaction account.
D) financial account.
A
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If a doctor knows that an insurance company will pay for most of a patient's bill, the doctor has more of an incentive to require additional medical procedures and tests, even if the patient may not require them. This is an example of
A) adverse selection. B) moral hazard. C) asymmetric information. D) the principle-agent problem.
When the Fed buys government bonds on the open market,
A. the market rate of interest on government bonds are lowered AND the market rate of interest on corporate bonds are lowered. B. the market rate of interest on corporate bonds are increased. C. government yields drop but corporate yields rise. D. government and corporate yields rise.
If a nation is going to achieve and sustain a high rate of economic growth, it must
a. prohibit low-wage foreign producers from supplying goods to the domestic market. b. have an abundant domestic supply of low cost energy resources. c. have a mechanism capable of attracting savings and channeling them into wealth-creating projects. d. impose regulations that will limit the intensity of competition among domestic firms.
Which of the following is not correct?
a. High-skilled immigration has many economic benefits. b. Each year in the United States, about one-third of the people earning a PhD. in science or engineering are foreign born. c. Low-skilled immigration lowers the earnings of native-born workers by 10-20 percent. d. Illegal immigrants may pay less in taxes, but they also are ineligible for many government benefits.