In the United States' economy
A. there is no need to economize.
B. we rarely have to economize.
C. only the rich have to economize.
D. nearly everyone has to economize.
D. nearly everyone has to economize.
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Under a fixed exchange rate regime, if a country has an ________ exchange rate, then its central bank's attempt to keep its currency from depreciating will result in a ________ of international reserves
A) undervalued; gain B) undervalued; loss C) overvalued; gain D) overvalued; loss
________ is among the ingredients of "a first-rate financial system."
A) Government-directed credit to key economic sectors B) Greater efficiency of state-owned banks C) Legal reform to strengthen financial contracts D) Saving rates of 20% or more
The expansion path for a homothetic production function:
a. is a straight line through the origin with a slope greater than one if w > v. b. is a straight line through the origin with a slope less than one if w < v . c. is a straight line through the origin though its slope cannot be determined by w and v alone. d. has a positive slope but is not necessarily a straight line.
A tax levied on the buyers of a good shifts the
a. supply curve upward (or to the left). b. supply curve downward (or to the right). c. demand curve downward (or to the left). d. demand curve upward (or to the right).