Which of the following is NOT a necessary precondition for economic growth?
A) economic freedom
B) democracy
C) property rights
D) free markets
E) ALL of the above are necessary preconditions.
B
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The Federal Reserve conducted the policy of quantitative easing primarily when
A) the interest rate was very sensitive to the change in the money supply. B) the interest rate was close to zero. C) the interest rate was relatively high. D) the interest rate was too erratic to be controlled.
In the short run, which of the following will reduce the gains from labor migration to the recipient nation?
a. Workers remit less than the value of their marginal products. b. Migrant workers have a declining marginal product so that the equilibrium wage is lower than MPs of earlier immigrants. c. Immigrants are low cost in terms of adjustment costs such as crime prevention, language assimilation, and few children enrolled in school. d. Workers remit more than the value of their marginal products.