Research involving industrially advanced countries suggests that:
A. the more independent the central bank, the lower the average annual growth of real GDP.
B. the more independent the central bank, the higher the average annual growth of real GDP.
C. there is no relationship between the degree of independence of a country's central bank
and the growth rate of its real GDP.
D. the less independent the central bank, the higher the average annual rate of inflation.
D. the less independent the central bank, the higher the average annual rate of inflation.
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The quantity of loanable funds supplied by firms is
A. independent of the interest rate. B. negatively related to the rate of return. C. inversely related to the interest rate. D. positively related to the interest rate.
Using the data in the table above, real GDP per person in 2009 is
A) $70,000. B) $71,429. C) $75,000. D) $70 trillion. E) 7 percent.
Utility is the set of numerical values that
A) yields an absolute level of pleasure from a bundle of goods. B) reflects the relative ranking of various bundles of goods. C) describes how much more a consumer prefers one bundle to another. D) yields a cardinal ranking of bundles.
Which of the following statements is FALSE?
A) The official absolute poverty level in the United States is far above the average income of many countries in the world. B) In a relative sense, the problem of poverty will always exist. C) An equal distribution of income would eliminate relative poverty. D) An equal distribution of income would eliminate absolute poverty.