Which of the following is a source of inequality in incomes?
a. luck
b. willingness to take risks
c. differences in investment in human capital
d. All of the above are correct.
d
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Suppose that imports and exports in an industry are $100 million and $200 million, respectively. Will the index of intra-industry trade for this industry rise, fall, or remain unchanged if exports fall to $100 million?
a. It will rise. b. It will fall. c. It will remain unchanged. d. There is not enough information to determine how the index will change.
When the nominal exchange changes from 120 yen per dollar to 110 yen per dollar, the dollar has:
A. become undervalued. B. appreciated. C. become overvalued. D. depreciated.
Other things being equal, an expansion of commercial bank lending
A. is desirable during a period of demand-pull inflation. B. increases the money supply. C. changes the composition, but not the size, of the money supply. D. reduces the money supply.
An example of expansionary fiscal policy could be
A. to reduce tax rates. B. to increase the nation's money supply. C. to reduce government spending. D. to reduce interest rates.