Refer to Exhibit 6-3. Prices changed by ___________ percent between year 1 and year 2.
a. -1.6
b. -1.7
c. 1.6
d. -2.3
e. 2.3
Answer: d. -2.3
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A decrease in a country's capital stock occurs when ________.
A. businesses sell machinery and equipment to one another B. the consumption of fixed capital exceeds gross domestic investment C. the prices of investment goods rise faster than the prices of consumer goods D. businesses have larger inventories at the end of the year than they had at the start
How has income inequality changed in recent years? What factors account for the changes?
What will be an ideal response?
If the nominal interest rate is 5 percent, and the rate of inflation is 3 percent, then the real interest rate is equal to
a. 2 percent. b. 0.6 percent. c. 1.7 percent. d. 15 percent.
In an open economy, the government budget deficit tends to.
a. attract foreign capital. b. be less important than the current account deficit. c. crowd out private investment. d. crowd out imports. e. depreciate the currency.