A model comparing savings and foreign exchange constraints to see which is binding for economic growth is known as a
(a) project appraisal.
(b) two gap model.
(c) computable general equilibrium.
(d) trickle down model.
(e) none of the above.
B
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Indifference curves show all combinations of commodities that are equally desirable to the consumer.
Answer the following statement true (T) or false (F)
It is estimated that a 10 percent inflation in the United States would bear a shoe-leather cost of approximately ________ percent of GDP
A) 15 B) 6 C) 2 D) 0.25
In winter, Europeans and Americans flock to Switzerland to ski. We would expect to see the Swiss franc
a. depreciate because there is an increase in the demand for Swiss goods and services, which means an increase in the demand for Swiss francs b. appreciate because there is an increase in the demand for Swiss goods and services, which means a decrease in the demand for Swiss francs c. remain fixed because the demand for Swiss goods and services is counterbalanced by the supply of Swiss goods and services d. appreciate because there is an increase in the demand for Swiss goods and services, which means an increase in the demand for Swiss francs e. restored to equilibrium because the summer months see Swiss tourists in Europe and the U.S.
Which of the following is an example of a pure market economy?
a. ?United States b. ?Switzerland c. ?Singapore d. ?No nation has a pure market economy