A fundamental problem in international economics is how to produce
A) a perfect degree of monetary harmony.
B) an acceptable degree of harmony among the international trade
policies of different countries.
C) a world government that can harmonize trade and monetary policies
D) a counter-cyclical monetary policy so that all countries will not be adversely affected by a financial crisis in one country.
E) a worldwide form of currency.
B
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Prof. Epstein's normative theory of law argues that the common law ought to
a. promote a more desirable distribution of income. b. impose punitive damages more often. c. seek economic efficiency. d. promote the Good Samaritan ethic.
A change in the price of one good, such as staples, may affect the quantity demanded of another good, such as rubber bands
a. True b. False Indicate whether the statement is true or false
If nominal GDP increases 4 percent during a year, and real GDP increases 7 percent during the same year, which of the following must by true?
a. The total value of GDP must have increased 11 percent during the year. b. The general level of prices as measured by the GDP deflator decreased by approximately 3 percent during the year. c. The general level of prices as measured by the GDP deflator increased by approximately 3 percent during the year. d. Imports must have been about 3 percent larger than exports during the year.
The poverty rate _______ between 1993 and 2000 and _____ between 2001 and 2004.
A. fell; fell B. rose; rose C. fell; rose D. rose; fell