Economics is sometimes called the study of choice. This means we all make choices because of ______.
a. income
b. opportunities
c. scarcity
d. surplus
c. scarcity
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Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). b. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). c. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Which of the following government programs will create a surplus?
A. rent control B. the minimum wage law C. usury laws D. price controls on oil
The largest source of unemployment is
A) re-entrants to the labour force. B) job losers. C) involuntary part-time workers. D) job leavers. E) entrants to the labour force.
Data from most industrialized countries show that countries with high investment rates (as a percentage of GDP) tend to be countries
A. with the highest rates of inflation. B. with the most unequal income distribution. C. with high rates of economic growth. D. with the lowest rate of national saving.