Which component(s) of U.S. real GDP increased in size relative to total U.S. real GDP from 1950 to 2000?
A. Agriculture and manufacturing.
B. Only manufacturing.
C. Only agriculture.
D. Only services.
Answer: D
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In the above figure, suppose the economy is at a short-run equilibrium at point B and the interest rate is r2. Which of the following policy options for the Fed will help solve the short-run situation?
A) open market sale of government securities B) lowering the required reserve ratio C) lowering the differential between the discount rate and the federal funds rate D) open market purchase of government securities
Other things constant, the elimination of factor price distortions in developing countries would most likely
(a) decrease rural-urban migration. (b) have little effect on rural-urban migration. (c) increase rural-urban migration. (d) increase urbanization.