________ policy involves decisions about government spending and taxation
A) Monetary
B) Fiscal
C) Financial
D) Systemic
B
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Two countries, Baltonia and Polonia, have aggregate production functions of the form:
Y = A × K1/3 × H2/3 Both countries have the same number of efficiency units of labor and use the same technology. However, Baltonia has a lower capital stock than Polonia. Which of the following is likely to be true in this case? A) The poverty rate in Baltonia is lower than that in Polonia. B) The gross domestic product of Baltonia is lower than that in Polonia. C) The gross domestic product of Baltonia is higher than that in Polonia. D) The Human Development Index of Baltonia is higher than that of Polonia.
To sell more units, a monopolist
A) simply moves across its horizontal demand curve to a larger quantity. B) moves down its demand curve to a lower price that will increase quantity demand. C) can continue to receive the same price it always has as long as it has its customers' goodwill. D) must be willing to lower the barriers to entry that have protected it.
Owners of corporations are referred to most frequently as
a. entrepreneurs b. lien holders c. limited partners d. managers e. stockholders
Some nations avoid the effects of trade deflection in a trade bloc by enforcing
A. quotas. B. trade diversion. C. trade deflection. D. rules of origin.