An economic growth model
A) explains changes in nominal GDP per capita in the short run.
B) explains changes in real GDP per capita in the short run.
C) explains changes in real GDP per capita in the long run.
D) explains changes in nominal GDP per capita in the long run.
C
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Extractive economic institutions are:
A) likely to prevent entrepreneurs with new ideas from entering into the right line of business. B) likely to encourage entrepreneurs with new ideas from entering into the right line of business. C) found only in market economies. D) found only in command economies.
Which of the following countries is not one of the top three exporting countries in the world?
A) South Korea B) Germany C) the United States D) China
The sale of goods abroad at a price below their cost and below the price charged in the domestic market is called
A) priming. B) coping. C) invading. D) dumping.