If a country's population grows at the same rate as its real GDP, then real per capita GDP:
a. doesn't change.
b. grows at an increasing rate.
c. decreases at a decreasing rate.
d. grows at a constant rate.
a
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If the demand curve for a good is unit elastic, then total expenditure will _____ as the price of the good decreases.
A. remain constant B. fall C. rise D. go to zero
Explain why companies that choose low-pollution technologies will find it hard to survive in a competitive industry.
What will be an ideal response?
Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What is KGC's marginal revenue function?
A. MR = 20,000 - 200Q B. MR = 400 - 10,000Q C. MR = 50 - (1/400)Q D. MR = 50 - 0.005Q
The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
a. econometric technique b. time-series forecasting c. opinion polling d. barometric technique e. judgment forecasting