In a Malthusian world, what would improve the standard of living permanently?
A) a war
B) a new medical drug
C) birth control
D) democracy
C
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An increase in the price level causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; movement down along B) shift to the right of; movement down along C) movement down along; movement down along D) shift to the left of; movement up along
Moral hazard is a problem in providing deposit insurance because insured banks are
A) more likely to make bookkeeping errors. B) overly cautious due to extra regulations adopted by the FDIC. C) more likely to provide bank managers with lavish perquisites. D) encouraged to take on more risk.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we can infer that Country A will specialize in:
A. trucks, and be willing to accept no less than 5 cars for each truck.
B. cars, and be willing to give no more than 5 cars for each truck.
C. trucks, and be willing to accept no more than 5 cars for each truck.
D. cars, and be willing to give no less than 5 cars for each truck.
Suppose that in a closed economy GDP is 11,000, consumption is 7,500, and taxes are 500 . What value of government purchases would make national savings equal to 2,000 and at that value would the government have a deficit or surplus?
a. 1,500, deficit b. 1,500, surplus c. 1,000, deficit d. 1,000, surplus