What do you think are the most serious obstacles to further progress in the developing world?
What will be an ideal response?
The main point here is to ensure that students are thinking carefully about the issues raised in the text. You may also wish to draw from the critical questions on Pages 9–11.
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Using the information in the table above, what does the slope of the line between x and y equal?
A) 5 B) -0.5 C) 2 D) -2
The long run effects of money supply change
A) ambiguous effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the opposite direction. B) proportional effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the same direction. C) no effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the same direction. D) no effect on the long-run values of the interest rate or real output, no change in the price level's long-run value. E) ambiguous effect on the long-run values of the interest rate or real output, A disproportional change in the price level's long-run value in the same direction.
Adverse selection:
A. results from unobserved characteristics of people or commodities. B. is about the actions of people. C. occurs after the parties have entered into an agreement. D. All of these statements are true.
Suppose that M is fixed but that P falls. According to the quantity equation which of the following could both by themselves explain the decrease in P?
a. Y rose, V rose b. Y fell, V fell c. Y rose, V fell d. Y fell, V rose