Which of the following characterizes the IACs?
a. High per capita GDP growth and high population growth.
b. Low per capita GDP growth and low population growth.
c. Low per capital GDP growth and high savings rate.
d. Low human capital investment.
b
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Suppose the Federal Reserve decides to increase the proportion of deposits that banks must hold from 1% to 3%. Which monetary policy tool is it using?
a) Reserve requirements b) Discount rate c) Open market operations d) Infrastructure spending
Which of the following is not an example of an adverse selection problem?
a. A homeowner purchases a refrigerator that the seller knows has a history of leaking. b. A highly productive worker quits her job after a salary cut knowing that she can make more at a different job. c. A major league baseball player performs poorly in his second season after signing a multi-million dollar contract. d. A contractor uses low quality materials for construction but charges for higher quality materials.