The Fed could conduct an open market purchase to eliminate an inflationary gap.
a. true
b. false
Ans: b. false
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Which of the following is FALSE about the Highly Indebted Poor Countries initiative?
A) Most of the countries included are in sub-Saharan Africa. B) Countries qualify for debt relief partly based on their level of poverty. C) Countries do not have to have established a past track record of economic reform in order to qualify as long as they make future commitments. D) External debt levels must be high relative to exports in order to qualify.
In a graph of a typical firm's AFC, ATC, and AVC curves, the
A. AVC curve crosses the MC curve at the point where the MC is at its minimum. B. distance between the ATC curve and the AVC curve equals the AFC. C. distance between the AVC curve and the AFC curve equals the ATC. D. AVC curve lies above the ATC curve.
In the pre-World War I period, the United Kingdom exported mainly
A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) livestock.
In perfect price discrimination, which of the following are reduced to zero?
a. Consumer surplus and producer surplus b. Producer surplus and deadweight loss c. Consumer surplus and deadweight loss d. Producer surplus and total welfare