Countries that have lower levels of real GDP per person than the United States
a. tend to have growth rates that are higher than that of the United States.
b. tend to have growth rates that are about the same as that of the United States.
c. tend to have growth rates that are lower than that of the United States.
d. in some cases have growth rates that are higher than that of the United States and in other cases lower than that of the United States.
d
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A local government would not be efficient in providing which of the following services?
A. International aid B. Police protection C. Fire protection D. Roads
Since a monopolist firm will lose some customers when the price is increased, it will make every effort to keep the price as low as possible.
Answer the following statement true (T) or false (F)
Assuming the free flow of capital across borders, which of the following statements is most correct?
A. A central bank cannot have both a fixed exchange rate and an independent inflation policy. B. The central banks of most industrialized countries focus on fixed exchange rates. C. While most central banks of industrialized countries favor fixing exchange rates, their primary concern is on domestic inflation. D. A central bank can have both a fixed exchange rate and an independent inflation policy.
Monopolies are characterized by a firm demand curve that is more elastic than the market demand curve.
Answer the following statement true (T) or false (F)