The value of the expenditure multiplier depends on the marginal propensity to consume
a. True
b. False
Indicate whether the statement is true or false
True
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Real GDP per person in Richland is $20,000, while real GDP per person in Poorland is $10,000. However, Richland's real GDP per person is growing at 1 percent per year, and Poorland's real GDP per person is growing at 3 percent per year. After 50 years, real GDP per person in Richland minus real GDP in Poorland is:
A. positive and greater than $10,000. B. negative. C. zero. D. positive but less than $10,000.
Refer to the scenario above. What is the net present value of the investment?
A) -$7,112.36 B) -$5,365.10 C) -$475.31 D) $9,524.19
Consider the market for blackjack dealers in Las Vegas. In each of the following cases, explain what happens to the equilibrium wage rate and the quantity of blackjack dealers hired
a. Three new large resort casinos open in Las Vegas. b. Fewer students are attending classes to learn to become blackjack dealers. c. Traditionally, blackjack dealing is a field that attracts foreign workers. However, changes in immigration laws have made it more difficult for foreign workers to come to Las Vegas to obtain jobs. The demand for blackjack dealers, however, does not change. d. Advances in technology have increased the popularity of electronic blackjack machines and decreased the popularity of live table games which require the use of a dealer.
Describe in general terms four or five characteristics of less-developed countries