Countries with the highest level of per-capita GNI tend to generate a large percentage of GDP from agriculture production.
Answer the following statement true (T) or false (F)
False
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Monopoly firms have a downward sloping curve in the short-run because
a. They have no close substitutes b. There are no barriers to entry c. They have no cost advantage over their rivals d. None of the above
A bank's assets equal its liabilities under
a. both 100-percent-reserve banking and fractional-reserve banking. b. 100-percent-reserve banking but not under fractional-reserve banking. c. fractional-reserve banking but not under 100-percent-reserve banking. d. neither 100-percent-reserve banking nor fractional-reserve banking.
The external costs associated with gambling include
A. the crowd control problems at casinos. B. the effects on the gamblers' family. C. the cost of security at casinos. D. the losses to gamblers.
Which of the following is a normative statement?
A) The price of candy bars is $1.25 each. B) Candy bars are more expensive than newspapers. C) You should eat less candy. D) Popcorn and candy are sold in movie theaters.