All of the following issues have been discussed as options for reforming the international financial architecture EXCEPT
A) how high an interest rate the lender of last resort should charge when it makes loans.
B) the length of the payback period.
C) the size of the loans.
D) if the lender of last resort (i.e., the IMF) should consult and collaborate with other international institutions such as the United Nations and the WTO.
D
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National income is derived from gross domestic product by
A) adding personal income and transfer payments to gross domestic product. B) subtracting depreciation from gross domestic product. C) subtracting retained earnings from gross domestic product. D) adding personal taxes and depreciation to gross domestic product.
Economics is best defined as the study of how individuals decide to use limited resources in an attempt to satisfy unlimited wants
a. True b. False
The money demand curve slopes: a. downward because the cost of holding money decreases as the interest rate decreases
b. downward because the cost of holding money increases as the interest rate decreases. c. upward because people demand more money as real GDP increases. d. upward because people demand more money as real GDP decreases. e. downward because people demand more money as the price level decreases.
Oligopoly: a. Meets the condition for allocative efficiency. b. Meets the condition for productive efficiency. c. Leads to slower technological progress
d. None of the above is true.