QN=62 (17781) The information below was reported by the World Bank. On the basis of this information, which list below contains the correct ordering of GDP per person from highest to lowest?
a. Kenya, Tanzania, Zimbabwe
b. Tanzania, Kenya, Zimbabwe
c. Zimbabwe, Kenya, Tanzania
d. Zimbabwe, Tanzania, Kenya
c. Zimbabwe, Kenya, Tanzania
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Differentiate between a pure strategy and a mixed strategy
What will be an ideal response?
Suppose one firm accounts for 55 percent of the global market share for a product, while 147 other firms account for the remaining 45 percent of the market
With such a large number of buyers and sellers, is this market likely to be competitive? Explain your answer.
Exhibit 3-6 Milk market Price per Quart Quantity Demanded (Quarts per week) Quantity Supplied (Quarts per week) 0.70 20 180 0.60 60 140 0.50 100 100 0.40 140 60 0.30 180 20 In Exhibit 3-6, which of the following are the equilibrium price and equilibrium quantity in the milk market?
A. $0.70 per quart and 200 quarts of milk. B. $0.30 per quart and 100 quarts of milk. C. $0.50 per quart and 100 quarts of milk. D. $0.40 per quart and 60 quarts of milk.
The government uses the buying power of wages rather than face value or nominal value in reporting changes in "real wages" in the economy.
Answer the following statement true (T) or false (F)