Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5%; scenario B has an average annual growth of 4.5%. The nation's real GDP would double in about:
A. 20 years under scenario A, versus 30 years under scenario B
B. 20 years under scenario A, versus 16 years under scenario B
C. 12 years under scenario A, versus 16 years under scenario B
D. 16 years under scenario A, versus 30 years under scenario B
B. 20 years under scenario A, versus 16 years under scenario B
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Which of the following events will decrease the domestic real interest rate in an open economy?
A. A decrease in the domestic saving. B. An increase in the perceived riskiness of investing in the domestic economy. C. An increase in domestic saving. D. An decrease in net capital inflow.
If a firm's average total cost is less than price where MR = MC
A) the firm should shut down. B) the firm should cut back on its output to lower its cost. C) the firm should continue to produce the output it is producing. D) the firm should raise its price.
An exchange rate is the price of one currency in terms of a second currency
a. True b. False Indicate whether the statement is true or false
A technological improvement in the production of good X causes the:
A. demand curve for X to shift to the right. B. demand curve for X to shift to the left. C. supply curve for X to shift to the right. D. supply curve for X to shift to the left.