Which of the following makes long-term low-interest loans to LDCs?
A. Agency for International Development (AID)
B. World Bank
C. International Monetary Fund (IMF)
D. New International Economic Order (NIEO)
Answer: B
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Which of the following increases the slope of the consumption function?
A) an increase in consumer wealth B) a decrease in the value of consumer durables C) an increase in consumer confidence D) an increase in the marginal propensity to consume
A contractionary monetary policy causes
A) higher interest rates, which increases the foreign demand for U.S. financial instruments, which causes interest rates to decrease. There is no effect on net exports. B) higher interest rates, which decreases the foreign demand for U.S. financial instruments, raising the international price of the dollar and increasing net exports. C) higher interest rates, which increases the international price of the dollar and decreases net exports. D) lower interest rates, which decreases the foreign demand for U.S. financial instruments, raising the international price of the dollar and increasing net exports.
The market clearing price for gasoline is $1.50, but the maximum price that can be charged is $1.29. This is an example of
a) a price control that will lead to a surplus of gasoline on the market. b) a price floor that will lead to a shortage of gasoline on the market. c) a price ceiling that will lead to a shortage of gasoline on the market. d) a price floor that will lead to a surplus of gasoline on the market.
If the price of steel increases drastically, the quantity of steel demanded by the building industry will fall significantly over the long run because
A) buyers of steel are less sensitive to a price change if they have more time to adjust to the price change. B) profits will fall by a greater amount in the long run than in the short run. C) buyers of steel are more sensitive to a price change if they have more time to adjust to the price change. D) sales revenue in the building industry will fall sharply.