United States (pick all that apply)
Primarily Market-Based Economy |
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Primarily Command-Based Economy |
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Authoritarian Government (Relatively high amount of government intervention compared to other countries) |
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Democratic Government (primarily) |
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High economic growth and high standard of living (relative to other countries) |
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low economic growth and low standard of living (relative to other countries) |
Primarily market based economy, democratic government, high economic growth and high standard of living.
The market forces determine the goods and services to be produced, the President is duly elected.
United States (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high...
North Korea (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)
South Korea (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)
East Germany (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)
West Germany (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)
Economic growth 4) Based on information from the World Bank, in 2016, GDP per capita was $57,467 in the United States and $59,977 in Iceland-very similar values (and high values compared to many countries). But, the annual rate of GDP growth averages 0.9% in the United States and 6.1% in Iceland. Would you predict the United States or Iceland to have a more rapid increase in the standard of living in the long run? evidence/theory from Chapter 11 you are...
27. If the market wage for electrical engineers in the United States is $50 per hour, then we know that the marginal product of electrical engineers is: Os at least $50 an hour. Ob. exactly $50 an hour. Oc approximately $50 an hour. Od. less than $50 an hour. 28. A college education in the United States: Oa. is not counted as human capital market issues. Ob. does not command the same high wages as it did in the past....
1) Suppose interest rates rise in the United States, but they don't rise in other nations. As a result of this change, which of the following is true? I. The demand for the U.S. dollar will increase II. The demand for the U.S. dollar will decrease III. U.S. exports will decrease as a result of the changing value of the U.S. dollar. IV. U.S. exports will increase as a result of the changing value of the U.S. dollar. a) I...
. The United Nations Human Development Index (HDI) uses information about a country’s life expectancy at birth (health), expected years of schooling and mean years of schooling (education), and Gross National Income per capita (standard of living) to create a measure that ranges from 1 (very high) to 0 (very low). For 2017, the United States had a value of 0.924, compared to 0.926 for Canada and 0.922 for the United Kingdom – very similar values. Based on this information,...
Assume unemployment is high and is a major problem in the United States. In an effort to get unemployment back to its natural rate, the Federal Reserve enacts an expansionary monetary policy by purchasing $10 million in U.S. Treasury bonds. If the reserve ratio is 10 percent, what is the maximum increase in money supply that may occur as a result of the Fed’s open market operation? Give one reason why money supply may not increase by the amount given...
1. Assume unemployment is high and is a major problem in the United States. (a) In an effort to get unemployment back to its natural rate, the Federal Reserve enacts an expansionary monetary policy by purchasing $10 million in U.S. Treasury bonds. i. If the reserve ratio is 10 percent, what is the maximum increase in money supply that may occur as a result of the Fed's open market operation? Answer: ii. Give one reason why money supply may not...