Why did President Roosevelt declare a bank holiday in March 1933?
People were panicking because they thought that their banks might fail and they would lose their deposits
that for many represented their hard-earned savings. Roosevelt closed the banks to create a brief period
of calm and to signal that the government would come to their rescue.
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According to the Fisher effect, if a lender and a borrower would agree on an interest rate of 8 percent when no inflation is expected, they should set a rate of _______ when an inflation rate of 3 percent is expected
a. 2 percent b. 5 percent c. 8 percent d. 11 percent
Which one of the following would create a demand for a foreign currency and supply of dollars in the foreign exchange market?
a. the sale of U.S. automobiles to a Mexican consumer b. the spending by British tourists in the United States c. the purchase of 1,000 shares of IBM stock by a Latin American investor d. the purchase of Japanese televisions by an American distributor
The fact that a society's production possibilities curve is bowed out from the origin of a graph demonstrates the law of:
A) increasing opportunity cost. B) decreasing opportunity cost. C) constant opportunity cost. D) convex opportunity cost.
The gross domestic product provides an estimate of society's evaluation of the relative worth of goods and services because it:
A. includes all income created by a nation's citizens, home or abroad. B. is a monetary measure. C. takes into account the value of security transactions. D. excludes public and private transfer payments.