From 1970 to the mid-1990s, the relative price of crude petroleum
A) steadily increased.
B) steadily decreased.
C) increased dramatically, then decreased dramatically.
D) decreased dramatically, then increased dramatically.
E) remained more or less the same.
C
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Refer to Figure 22-1. Many countries in Africa strongly discouraged and prohibited foreign direct investment in the 1950s and 1960s. By doing so, these countries were essentially preventing a moment from
A) B to C. B) D to C. C) A to B. D) B to A.
Which of the following is false about a liquidity trap situation: a. Quantitative easing might be a more effective strategy to stimulate the economy than buying short term government securities. b. The Fed can lower both short term and long term interest rates by using quantitative easing. c. The Fed cannot easily reduce the fed funds interest rate
d. Quantitative easing may be able to affect long term interest rates even when the Fed is unable to appreciably lower short term interest rates.
Elasticity is a useful tool in learning more about the character of demand. It depicts
a. the way to find market equilibrium b. a ratio of percentage changes c. how easily prices adjust to changing market (supply and demand) conditions d. how price changes as quantity demanded changes e. how consumers react to shifts in demand
Banking under a system of fractional reserves is a(n)
a. inherently risky business that is unsafe regardless of bank management. b. inherently risky business that is relatively safe under prudent management. c. fairly safe business unless management is irresponsible. d. fairly safe business with no unusual risks.