The term "sovereign debt crisis" applies when ________
A) private businesses cannot borrow money because the government is borrowing so much
B) nations compete fiercely with each other to increase their borrowing
C) a government finds that the cost of borrowing is higher than it had anticipated
D) the debt of a particular government quickly loses value
D
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Which of the following is true?
A) When real GDP equals potential GDP, both equal nominal GDP. B) Nominal GDP fluctuates around real GDP. C) Real GDP fluctuates around nominal GDP. D) Potential GDP fluctuates around real GDP. E) Real GDP fluctuates around potential GDP.
How could the removal of labor market distortions increase employment even if the elasticity of factor substitution is very low?
What will be an ideal response?
For China
A) there was a long period of success with the economic results of communism so it was hard to change policies. B) reform of its economic system was rapid, with a quick dismantling of most of the controls exercised by the state and party over the economic system, but not the political system. C) economic reforms were intended to create more wealth to distribute, not do undo the communist party. D) there are no longer state owned enterprises.
Which of the following economies is an example of a mixed system?
a. The United Kingdom b. Sweden c. The United States d. All of the answers are correct.