Although GDP is not the same as economic well-being, high levels of GDP are positively correlated with all of the following except:
A. longer life expectancies.
B. higher rates of infant mortality.
C. higher material standards of living.
D. higher rates of literacy.
Answer: B
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A major reason for creating the European Monetary System was to
A) create a single currency. B) unify banking laws and permit cross-border investment. C) avoid competitive devaluations. D) reduce the costs of changing currencies. E) eliminate the need for central banks.
In the loanable funds market, an increase in the desire to save is translated into a(n)
a. increase in investment spending and slower growth in the capital stock b. decrease in investment spending and slower growth in the capital stock c. decrease in investment spending and faster growth in the capital stock d. increase in investment spending and faster growth in the capital stock e. increase in investment spending but with no growth in the capital stock