Wealth is considered to be a
A. stock.
B. flow.
C. nontaxable stream of funds.
D. resource.
Answer: A
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If real income is 250b and the amount of domestic absorption is 322b, what is the current account balance?
A) The current account deficit is 72b. B) The current account surplus is 72b. C) The current account deficit is 572b. D) The current account surplus is 572b.
During the course of an economic contraction, it is likely that a country would experience
A) a currency depreciation as explained by the absorption approach. B) a currency appreciation as explained by the absorption approach. C) a currency depreciation as explained by the elasticities approach. D) a currency appreciation as explained by the elasticities approach.
Examples of Mises' "Planned Chaos"
a. 1970s oil price & allocation regulation b. the planned Soviet economy c. the financial crisis of 2006 d. both a and b e. all of the above
What is a workplace externality associated with education?
A. It is the increase in productivity of a workplace when an educated worker joins a work team. B. It is the increased productivity of professors in a university. C. It is the increased productivity of staff who all work in a university. D. It is the increased productivity of a workplace when led by a CEO who never finished college.