Which of the following is TRUE?
A) Russia is more dependent of international trade than Brazil.
B) Exports and imports are rising more slowly than GDP in the BRIC countries.
C) China was the last of the BRICs to start economic reforms.
D) All of the BRIC countries had to transition from socialist or communist systems.
A
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Total surplus is represented by the area below the
a. demand curve and above the price. b. price and up to the point of equilibrium. c. demand curve and above the supply curve, up to the equilibrium quantity. d. demand curve and above the horizontal axis, up to the equilibrium quantity.
The interest rate that the Fed charges banks to borrow funds from the Fed is the
A. federal funds rate. B. money market rate. C. nominal interest rate. D. discount rate.
Due to a "baby bust" in the 1960s and 1970s, fewer people entered the labor market in the 1980s and 1990s
This demographic event ________ the natural unemployment rate thereby shifting the short-run Phillips curve ________ and shifting the long-run Phillips curve ________. A) increased; leftward; rightward B) decreased; rightward; rightward C) decreased; leftward; leftward D) increased; rightward; rightward E) increased; rightward; leftward
The speculative motive for holding money is closely tied to what function of money?
A) store of wealth B) unit of account C) medium of exchange D) standard of deferred payment