In 2013, which of the following countries’ exports of goods and services as a percentage of GDP exceeded 50%?
a. United States
b. Canada
c. India
d. Korea
d. Korea
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The consensus today is that import-substitution protectionist industrial policy has not served the developing countries' growth ambitions well
This fact proves that policies relying on export-driven growth are the "winning ticket" for these countries.
A subsidy to carrot farmers will
A) increase the quantity of carrots demanded. B) decrease the quantity of carrots supplied. C) increase the supply of carrots. D) leave both the supply and demand of carrots unchanged.
The income velocity of money is
A) the time it takes to produce money. B) the time lag from when the Fed decides to increase the money supply until the effect takes place. C) the number of times per year a dollar is spent on final goods and services. D) the time it takes for monetary policy to have an effect on world financial markets.
The classical model predicts the real GDP will always be
a. rising. b. falling. c. equal to its full-employment level. d. constant. e. equal to its full-taxation level.