Which of the following nations experienced average rates of economic growth of less than 2 percent over the last 100 years?

Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the year?

Which of the following would be considered physical capital?

Which of the following is considered human capital?

Which of the following would, by itself, reveal the most about a country’s standard of living?

On a production function, as capital per worker increases, output per worker

The catch-up effect refers to the idea that

All else equal, if there are diminishing returns, then if a country raised its capital by 100 units last year and by 100 units this year,

Which of the following is a financial-market transaction?

Suppose the issuer of a bond fails to pay some of the interest or principal that was promised to the bondholders.  This failure is referred to as a

A stock index is

The single most important piece of information about a stock is its

Which of the following are financial intermediaries?

The old adage, “Don’t put all your eggs in one basket,” is very similar to a modern bit of advice concerning financial matters:

In a closed economy, what does (Y - T - C) represent?

Which of the following equations will always represent GDP in an open economy?

For an imaginary closed economy, T = $5,000; S = $11,000; C = $50,000; and the government is running a budget deficit of $1,000.  Then

A budget surplus is created if

Other things the same, an increase in the interest rate

If the nominal interest rate is 6 percent and the real interest rate is 2 percent, then what is the inflation rate?

Suppose a government that taxed all interest income changed its tax law so that the first $5,000 of a taxpayer’s interest income was tax free. This would shift the

Which of the following is correct?

Figure 1.   The figure shows two demand-for-loanable-funds curves and two supply-of-loanable-funds curves.

Refer to Figure 1.   What, specifically, does the label on the vertical axis, i, represent?

The amount of unemployment that an economy normally experiences is called the

Who is not included in the labor force?

The unemployment rate is defined as the percentage of

The labor-force participation rate is computed as

Pablo loses his job and immediately begins looking for another.  Other things the same, the unemployment rate

Carlota just graduated from UTPA.  In order to devote all her efforts to college, she didn’t hold a job.  She is going to cruise around Texas on her motorcycle for a month before she starts looking for work.  Other things the same, the unemployment rate

According to 2007 data on the U.S. population, which of the following groups of teenagers (ages 16-19) has the highest unemployment rate?

Since 1960, the natural rate of unemployment in the U.S. has been between

Over the past several decades in the United States, the labor-force participation rate of women has

Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills is called

People who are unemployed because wages are, for some reason, set above the level that brings labor supply and demand into equilibrium are best classified as

Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions

Ellen decides to hire some additional workers for her vinyl siding factory. The equilibrium wage is $14 per hour. Efficiency wage theory suggests that it is reasonable for Ellen to offer

Fiat money

There is a

A bank’s assets equal its liabilities under

A bank’s

Which of the following lists two things that both increase the money supply?

Bank runs

Imagine that the federal funds rate was below the level the Federal Reserve had targeted. To move the rate back towards it’s target the Federal Reserve could

When the Fed conducts open-market sales,