How much money would be loaned out if there was no usury law?
$240 billion
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Limits on a country's ability to use aid effectively are referred to as its
a. absorptive capacity b. bilateral aid c. conditionality d. grant element e. none of the above
Where should a producer stop devoting more of his spending on labor if initially the MRP of the additional dollar spent on labor is higher than the MRP of the additional unit spent on tools?
a. MRP/$ of additional labor falls below MRP/$ of additional tools. b. MRP/$ of additional capital increases above MRP/$ of additional tools. c. MRP/$ of additional labor becomes equal to MRP/$ of additional tools. d. MRP/$ of the additional labor falls to zero.
Keynesians
A. believe capitalism is inherently stable. B. believe the markets in a capitalistic economy are highly competitive. C. argue against the use of discretionary monetary policy. D. contend that government intervention in the economy is desirable.
Which of the following is an accurate comparison between long-run elasticities of demand and short-run elasticities of demand?
a. Long-run price elasticities of demand are greater than short-run price elasticities of demand mainly for luxury items. b. Long-run price elasticities of demand are equal to short-run price elasticities of demand EXCEPT for expensive items. c. Long-run price elasticities of demand are greater than short-run price elasticities of demand for most products. d. Long-run price elasticities of demand are less than short-run price elasticities of demand for inexpensive items.