Which of the following nations has experienced the highest average annual rate of growth of per capita real GDP since 1990?
A) Germany B) United States C) India D) China
D
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An investment opportunity has two possible outcomes. The expected value of the investment opportunity is $250. One outcome yields a $100 payoff and has a probability of 0.25. What is the payoff of the other outcome?
A) -$400 B) $0 C) $150 D) $300 E) none of the above
When people shop more frequently and transfer money out of their bank account more often in an effort to help avoid the loss in purchasing power of cash, they bear the _____ costs of inflation
a. menu b. shoe-leather c. unit-of-account d. direct
Assume that business investment spending rises, and the increase is funded by greater borrowing in the capital markets. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real exchange rate and monetary base in the context of the Three-Sector-Model? Assume the nominal exchange rate is stated as: (Foreign currency per Domestic
currency). a. The real exchange rate rises and monetary base falls. b. The real exchange rate and monetary base fall. c. The real exchange rate and monetary base remain the same. d. The real exchange rate falls and monetary base rises e. There is not enough information to determine what happens to these two macroeconomic variables.
It once took 90 percent of our population to grow our food. It now takes only 3 percent of the population to grow our food. Which of the following statements is true?
a. This loss of jobs has been detrimental to our economy. b. The government should provide subsidies to encourage more people to become farmers. c. The reduction in the number of farmers explains the increase in the price of food. d. This is progress because freed-up labor is used to produce other goods.