Economies that adopt more open trade policies have often historically enjoyed faster economic growth rates as a result. This is an example of what kind of statement?
A. Marginal
B. Positive
C. Biased
D. Normative
Answer: B
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According to the functional distribution of income, in the United States,
A) capital earns most of the income. B) the income earned by capital and labor are approximately equal. C) labor earns most of the income. D) land earns most of the income. E) entrepreneurs earn most of the income.
When external benefits are present,
A) competitive markets are efficient. B) competitive markets are inefficient. C) a tax is required to eliminate the inefficiency. D) property rights have already been established.
What are the economic implications of an inverted yield curve?
What will be an ideal response?
Under a fixed exchange rate system, if the government decides to increase the fixed exchange rate, net exports will ________ and the IS curve will shift to the ________
A) increase; left B) increase; right C) decrease; left D) decrease; right