A favorable balance of trade occurs when the
a. value of exports equals the value of imports
b. balance of payments is balanced
c. current and capital accounts in the balance of payments are equal
d. value of exports exceeds the value of imports
e. value of exports is less than the value of imports
D
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In the two-period model with asymmetric information, a one-unit increase in the real rate of interest on bank deposits
A) causes the real loan interest rate to increase by more than one unit. B) causes the real loan interest rate to increase by less than one unit. C) cause the real loan interest rate to decrease by less than one unit. D) causes the real loan interest rate to decrease by more than one unit.
Which of the following factors are considered by economists who study economic development to be directly related to the rate of economic growth?
A) plentiful natural resources B) openness to international trade C) an educated population D) All of the above are correct.