If a US citizen is employed by a US company in Russia, the income she earns is:
a. part of US GNP and Russian GDP.
b. part of US GNP and Russian GNP.
c. part of US GDP and Russi GNP
d. part of US GDP and Russia GDP.
A
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The characteristics of a market that influence the behavior of market participants is (are) known as
a. perfect competition b. market power c. barriers to entry d. market structure e. monopolistic competition
The price system is based on the law of __________________.
Fill in the blank(s) with the appropriate word(s).
If an epidemic hits a Malthusian economy, the long-term consequence is
A) an increase in the standard of living. B) a reduction in the standard of living. C) no change in the standard of living. D) dependent on the population growth rate.
Refer to the above figure. The profit-maximizing price and output for this monopolist are
A) a price of P1 and output of Q1. B) a price of P4 and output of Q1. C) a price of P2 and output of Q2. D) a price of P3 and output of Q3.