The level of real GDP person
a. differs widely across countries, but the growth rate of real GDP per person is similar across countries.
b. is very similar across countries, but the growth rate of real GDP per person differs widely across countries.
c. and the growth rate of real GDP per person are similar across countries.
d. and the growth rate of real GDP per person vary widely across countries.
d
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Refer to Table 9-17. Looking at the table above, real average hourly earnings between 2015 and 2016 changed by
A) 1.2%. B) 4.5%. C) 9.9%. D) 14.5%.
Why does a monopolist face the market demand curve?
a. Presence of a large number of substitutes b. Presence of a large number of buyers in the market c. Barred entry of any new firm in the market d. Produces a homogeneous product e. Consumers have perfect knowledge of the market
In practice, taxes on emissions of pollutants have been found to
A. be ineffective in encouraging firms to pollute less. B. significantly reduce pollution by taxed firms. C. be less reliable in reducing pollution than direct controls on pollution. D. cause failures of the pricing system.
The problems of markets can be addressed by:
A. guaranteed price matching. B. increasing the number of sellers in the market. C. imposing price ceilings. D. money-back guarantees.