The Great Depression changed the prevailing thinking about economics
a. True
b. False
Indicate whether the statement is true or false
True
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The question "Will doctors or lawyers have higher annual incomes?" represents which of the three basic economic questions?
What will be an ideal response?
Give some possible explanations of the productivity slowdown in the United States that occurred in the 1973-1995 period
In spite of less-than-optimal currency area criteria at present in the Eurozone, some believe that the existence of a working currency union will result in:
A) an improvement in the criteria, as the union members are committed to work for more integration. B) a gradual deterioration of the union, as members seek benefits from having an autonomous monetary policy. C) tension and a power struggle over which will be the dominant economy in the union. D) more delay in implementing needed reforms.
Suppose a one-year discount bond offers to pay $1000 in one year and currently sells for $950. Given this information, we know that the interest rate on the bond is
A) 5.3%. B) 9.5%. C) 10%. D) 90%. E) 110%.