Russia, Iran and Qatar made the first serious moves in October 2008 toward forming an OPEC-style cartel on natural gas. What is the goal of a cartel?
A) restrict output
B) raise prices
C) increase sales
D) increase profits
D
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With respect to unemployment, the classical model states that
A) unemployment of any kind cannot exist. B) involuntary unemployment will always exceed voluntary unemployment. C) unemployment fluctuates with the interest rate. D) only voluntary unemployment exists.
A business cycle has two turning points, which are the
A) recession and trough. B) peak and recession. C) trough and peak. D) expansion and recession. E) peak and expansion.
In general, the relationship between democracy and economic growth as demonstrated by the HPAEs is that
A) democratic nations grow faster than undemocratic nations. B) democratic nations grow slower than undemocratic nations. C) there does not seem to be a relationship between democracy and economic growth. D) democracies are much more variable in their rates of growth than undemocratic nations. E) democracies are much less variable in their rates of growth than undemocratic nations.
Which of the following is equivalent to the trade deficit?
a. Imports ? exports b. Net capital inflow c. Exports + imports d. Net exports - imports e. Exports ? imports