need help with these questions! I was sick when we went over them I just want to make sure they’re right?

Manlee08 asked:


I just was unsure about these questions! Please help! * is what I put! THANKS!!! )

1. A closed economy is one which ______.

A) only trades with its neighbors
B) trades goods but not services or assets with other countries
C) does not trade goods, services, or assets with other countries
*D) has a centrally planned economy

2. The Human Development Index is

A) a perfect measure of a countries standard of living
B) the only way to measure living standards between different countries
*C) an incomplete measure of a countries standard of living
D) used by the U.N. to compare nations by measures other than real GDP per capita

3. Discouraged workers are those individuals ________.

*A) who are getting paid too little
B) who do not like their jobs
C) who are working part time but are looking for a full-time job
D) who have given up looking for a job

4. The major difference between the consumer price index and the producer price index is that _______.

A) the PPI is based on retail prices and the CPI is based on wholesale prices
B) the PPI measures the cost of living of self-employed workers and the CPI measures the cost of living of salaried workers
C) the PPI generally registers a higher rate of inflation than the CPI
*D) the PPI is based on the cost of a basket typically purchased by producers, while the CPI is based on the cost of a basket typically purchased by consumers

5. According to Thomas Malthus’s work, which of the following is true concerning his pessimistic predictions of future productivity?

A) As population grew so would output per worker
B) The amount of capital per worker would fall
*C) Technology could be counted on to increase output per worker
D) The amount of land per worker would eventually decline

6. Sources of funds for investment spending are _______.

A) savings by households, government, and foreigners
*B) taxes and transfer payments
C) always equal to U.S. spending on imports
D) directed to their most productive uses by the U.S. government

7. Governments can engage in saving when _________.

A) taxes are less than expenditures
*B) taxes are greater than expenditures
C) the government borrows to finance its expenditures
D) the president insists that Congress balance the budget

8. Capital inflows represent _____.

*A) the net inflow of funds into a country
B) the net outflow of funds from a country
C) the amount that domestic savings exceeds foreign savings
D) the excess of domestic physical capital exported minus the amount of physical capital imported

9. The price determined in the market for loanable funds is _____.

A) the margin call
B) the profit rate
C) the transaction fee
*D) the interest rate

10. A financial asset is ______.

A) a tangible asset like a car
B) a claim that entitles the owner to future income from the seller
C) the value of accumulated savings
*D) all the above

Gordon