If the real GDP of a DVC increases from $600 billion to $630 billion and its population increases from 200 million to 216 million, its real per capita GDP will have:
A. increased by about $83.
B. decreased by about $83.
C. remained unchanged.
D. decreased by about $19.
B. decreased by about $83.
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Dalton, Georgia, a town with a population less than 35,000, has developed into a leading producer of carpets, despite its small size
Some government officials argue that the success achieved by firms in Dalton in developing a comparative advantage in carpet making because of external economies can be used to justify trade barriers as a means to protect an "infant industry." After an infant industry gains experience it can compete in international markets and the trade barriers can be removed. What objections do economists make to this argument in favor of trade barriers?
The largest component of consumption expenditures is: a. durables
b. nondurables. c. services. d. residential structures.
In the 1990s, Fed Chair Alan Greenspan believed that the market was
a. undervalued, and evidence later showed that this was clearly correct. b. undervalued, but whether it was remains debatable. c. overvalued, and evidence later showed that this was clearly correct. d. overvalued, but whether it was remains debatable.
Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. What is the total damage imposed as a result of producing the efficient level of cars?
A. $0 B. $250 C. $350 D. $500