Economics is a part of the
A) social sciences.
B) natural sciences.
C) biological sciences.
D) organizational sciences.
Answer: A
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Refer to the above table. Country A has a per capita real GDP of $1000 and B has a per capita real GDP of $10,000. A is growing at a rate of 5 percent a year and B at a rate of 4 percent a year
After 50 years, how much larger is per capita real GDP in B than A? How much is this in real dollars? A) B is 12 times larger, or $230,000 larger on a real per capita basis. B) B is 8 times larger, or $175,000 larger on a real per capita basis. C) B is a little less than 2 times smaller, or almost $20,000 smaller on a real per capita basis. D) B is a little over 6 times larger, or almost $60,000 larger on a real per capita basis.
What is the opportunity cost of investing $10,000 of your own money in a business you wish to start?
What will be an ideal response?
Fiscal policy is
A) the selling of government bonds by the Treasury. B) the deliberate manipulation of the money supply designed to affect the interest rate. C) the deliberate manipulation of taxation and spending designed to affect the economy. D) the selling of foreign exchange reserves designed to change the exchange rate. E) All of the above.
Monetarists have received this label because they emphasize the role of
a. money supply in determining aggregate supply. b. the money supply in determining nominal GDP. c. the Fed in making monetary policy. d. the money supply in determining interest rates and investment.