What best defines active policy making?
A) taking action to offset a change in economic performance
B) taking action to increase long-term economic growth
C) taking action to make markets more competitive so as to improve efficiency
D) taking action to make markets less competitive so as to improve equity
A
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In the United States saving is allocated to its most productive use by:
A. the federal, state, and local governments. B. the Federal Reserve. C. a decentralized, market-oriented financial system. D. regulations and laws designed to improve productivity.
Which of the following has the highest present value?
A) $1,000 received in 3 years if the current interest rate is 4% B) $1,500 received in 5 years if the current interest rate is 6% C) $2,000 received in 6 years if the current interest rate is 11% D) $3,000 received in 10 years if the current interest rate is 12%
_____ can temporarily create dislocations as displaced workers try to find jobs elsewhere and, at the same time, make existing products more affordable
a. Technological change b. Changes in the rate of interest c. Population changes d. Changes in the price level e. An increase in public expenditure
Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade
a. True b. False Indicate whether the statement is true or false