The depreciation of a currency may cause an initial worsening of the balance of payments before it improves. This is called the
A) J-curve effect.
B) time value of money.
C) Marshall Lerner condition.
D) shock effect.
A
Economics
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Scarcity exists because
A) society and people are greedy and wasteful. B) our wants exceed the resources available to satisfy them. C) of the inefficient choices we make. D) poor people need more food and other goods.
Economics
In 2013, the top 3% of wealth holders owned ________ of the nation's wealth.
A. 25.5% B. 54.5% C. 75.3% D. 92.9%
Economics
In long-run macroeconomic equilibrium
A) real GDP equals potential GDP. B) the price level is fixed and aggregate demand determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant. D) real GDP is less than potential GDP.
Economics