The supply curve for a particular bond is vertical
a. True
b. False
A
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Which of the following would increase GNP in the United States?
A) an increase in the production of Japanese-owned Toyota cars in the U.S. B) an increase in the production of Japanese-owned Toyota cars in Mexico C) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S. D) an increase in the production of U.S.-owned General Motors cars made in Mexico
An actor that is committed to making loans to stressed economic actors when market institutions would refuse to do so is called
a. a lender of last resort. b. a hegemon banker. c. an institutional lender. d. a fundamental banker.
It is likely that, if we could measure the quality as well as the quantity of education,
a. the human-capital argument would become less compelling as a means of explaining wage differentials between white workers and black workers. b. the human-capital argument would become less compelling as a means of explaining wage differentials between male workers and female workers. c. wage differentials between white workers and black workers would be more puzzling than they are now. d. wage differentials between white workers and black workers would be more fully explained.
During the 1970's, U.S. inflation averaged 7% each year and real GDP increased. Holding velocity constant and using the quantity equation, we conclude that
a. money growth must have been greater than the growth of real income. b. money growth must have been less than the growth of real income. c. prices fell during the 1970's. d. output fell during the 1970's.