The rate of economic growth is a topic of microeconomics.
Answer the following statement true (T) or false (F)
False
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The Durban climate conference of 2011 brought together the _____________ and the most vulnerable developing nations to begin negotiating a new international climate change agreement.
a. United States b. states of the former Soviet Union c. European Union d. United Nations
For which of the following does a consumer have the most options if he or she waits a while after a price change?
a. salt
b. gasoline
c. medical care and hospitalization
d. china, glassware
Growth in Latin America in the 1970s was largely fueled by
A) monetary expansion. B) government spending. C) export growth. D) capital inflows.
The table above gives data for the nation of Pearl, a small island in the South Pacific. If aggregate demand increases so that the quantity of real GDP demanded is $6 billion more at each price level, the new equilibrium real GDP is ________, and the nation is now experiencing a(n) ________.
A) $22 billion; inflationary gap B) $22 billion; recessionary gap C) $28 billion; inflationary gap D) $28 billion; recessionary gap E) $25 billion; equilibrium