Which Latin American country defaulted on loans in 2005 and paid off their creditors at only 1/3 value?
A) Argentina
B) Brazil
C) Chile
D) Colombia
E) Mexico
A
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Labor productivity is equal to the quantity of
A) real GDP. B) real GDP consumed by the total population in one hour. C) real GDP produced by one hour of labor. D) workers employed during one hour. E) workers who are gainfully employed.
In the above figure, the short-run aggregate supply curve is SAS and the aggregate demand curve is AD. A recessionary gap exists
A) if the long-run aggregate supply curve is LAS1. B) if the long-run aggregate supply curve is LAS2. C) if the long-run aggregate supply curve is LAS3. D) All of the above answers are correct.
The one main difficulty with a nominal GDP target rule for monetary policy is that it
A) is a difficult target to hit. B) provides no nominal anchor. C) requires a painful extinguishing response to an adverse supply shock. D) performs badly when there is unstable velocity.
A bond is a
A. Ownership share in a private company. B. License to use the Fed's discount window. C. Certification that a bank has met the Fed's reserve requirement. D. Promise to repay borrowed funds.