Goods produced abroad and sold domestically are called exports and goods produced domestically and sold abroad are called imports
a. True
b. False
Indicate whether the statement is true or false
False
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The discount rate refers to
A. the rate at which banks write off bad loans. B. the rate at which assets lose their real value as a result of inflation. C. the rate at which money loses its value as a result of inflation. D. the rate of interest that the Fed charges on loans to commercial banks and thrift institutions.
An economy of 80 million people has ten percent of them engaged in research and development, where their productivity is 0.0035
The economy is on a balanced growth path, when suddenly 2.88 million people move from goods production into R&D, raising the fraction there to 13.6 percent. In the one period that begins with this labor reallocation, the growth rate of output is ________. [Refer to the instruction above.] A) 2.8% B) 0.0% C) 3.8% D) 2.2%
If one subtracts the amount of bonds held by agencies of the federal government and the Federal Reserve from the national debt, what remains is known as the
a. external debt. b. privately held government debt. c. trade deficit. d. budget deficit.
Jordan has the following assets and liabilities:Two cars$10,000House$200,000Mortgage$100,000Cash$1,000Car loans$3,000Checking account balance$2,000Credit card balance$1,000 Suppose that Jordan wins $100,000 in the lottery. If he uses that money to pay off his mortgage, his wealth would ________; if he puts that money in his checking account, his wealth would ________;
A. increase to $209,000; increase to $209,000 B. increase to $207,000; not change C. increase to $209,000; not change D. not change; increase to $207,000