Related to the Economics in Practice on p. 683: According to the International Monetary Fund, the top debtor nation in 2013 was
A. Japan.
B. China.
C. the United States.
D. Saudi Arabia.
Answer: C
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Which model is used to evaluate the effects of macroeconomic policy such as tax cuts?
A. Aggregate demand and aggregate supply B. Demand and supply C. Game theory D. Circular flow.
Over the last 40 years, the gap between the rich and the poor in the United States has been increasing. Economists have justified this outcome by noting that
A. efficiency can never be achieved without greater inequality. B. inequality is not a problem. C. inequality is a desirable policy outcome. D. inequality is a necessary consequence of achieving greater efficiency. E. efficiency should be achieved regardless of the cost.
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.
Suppose there is a report that the unemployment rate unexpectedly increased in the previous month. To what extent will the expected central bank response to this news affect how stock prices will respond to this report of a higher than expected unemployment rate? Explain
What will be an ideal response?