If California were a separate nation, its economy would rank where among nations of the world?
A. Second
B. Third
C. Fifth
D. Sixth
Answer: D
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The "solvency condition" states that the debt-GDP ratio will rise continuously so long as
A) the real GDP growth rate exceeds the real interest rate. B) the real interest rate exceeds the real GDP growth rate. C) the real interest rate exceeds the nominal interest rate. D) the nominal interest rate exceeds the cost of borrowing.
Having a chronic trade deficit is a problem, but for countries that have chronic trade surpluses, the consequences are just as problematic
Indicate whether the statement is true or false
In a cost-benefit analysis, the value of a human life is sometimes calculated on the basis of
a. the risks that a person voluntarily exposes herself to in her job and/or recreational choices. b. the value of each individual's assets. c. the belief that human life is priceless. d. the amount of resources required to adequately sustain life.
The real price of a product is its
A. absolute level on any given day divided by the relevant price index. B. absolute level on any given day. C. absolute level on any given day minus any external costs of the production of the good. D. price relative to the price of other goods and services.