Using a big-push strategy for LDC economic development, the private sector
a. does not participate at any stage
b. participates actively only at the beginning
c. contributes matching funds to all government-financed projects
d. participates after the government push creates the multiplicity of markets
e. hurts the process by charging high prices for goods produced since it typically has monopoly power
D
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If the price level is 90, then the price level will ________ because ________
A) either fall or rise; markets are unstable and macroeconomic equilibrium is difficult to predict B) fall; the aggregate quantity demanded is less than the aggregate quantity supplied C) rise; the aggregate quantity demanded is less than the aggregate quantity supplied D) rise; the aggregate quantity demanded is greater than the aggregate quantity supplied E) fall; the aggregate quantity demanded is greater than the aggregate quantity supplied
The slope of a production possibilities frontier
A) is always varying. B) measures the opportunity cost of producing one more unit of a good. C) has no economic relevance or meaning. D) is always constant.
When the short run aggregate supply curve shifts left, it ___ the short-run Phillips curve
a. Moves the economy up along b. Moves the economy down along c. Shifts right d. Shifts left
Which of the following describes adverse selection in the insurance market?
a. The buyer has more information than the seller about whether they are high or low risk. b. The buyer behaves in a way they would not behave if they did not have insurance. c. The seller has more information about whether a buyer is high or low risk. d. The buyer and the seller know whether the buyer is high or low risk.