The Baker Plan for addressing the debt crisis was based on the assumption that
A) most countries would eventually default on their debt.
B) forgiveness of some of the debt was inevitable.
C) hyperinflation would eventually reduce the real value of the debt.
D) renewed lending by U.S. and European banks would restore growth and make the debt manageable.
D
Economics
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If the real interest rate rises, people
A) save more. B) save less. C) earn a higher real wage rate. D) decrease their expected future income.
Economics
A shift of the supply curve of DVDs raises the price of a DVD from $9.50 to $10.50 a DVD and reduces the quantity demanded from 41 million to 39 million DVDs a month. The price elasticity of demand for DVDs is
A) 2 million DVDs a month per dollar. B) $1 per 2 million barrels a day. C) 0.5. D) 2.0.
Economics