Refer to Figure 3-4. If the price is $10
A) there would be a surplus of 600 units. B) there would be a surplus of 200 units.
C) there would be a shortage of 200 units. D) there would be a shortage of 600 units.
D
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Which of the following statements is NOT true about using per capita real GDP to measure a nation's economic growth?
A) The definition does not indicate how the increase in growth is being disturbed among the nation's population. B) The definition assumes that some of the increase in productivity goes to the poor. C) The definition is not perfect for measuring increases in a nation's productive capacity. D) The definition has understated actual economic growth because it does not take into consideration changes in leisure.
With technological developments, more resources are discovered which change production sets for countries and make world trade more and more beneficial
Indicate whether the statement is true or false
Which of the following about demand is true?
a. The height of the demand curve for a product at a given quantity represents the marginal value derived by the consumption of that unit. b. The height of the demand curve for a product at a given quantity reflects the total value consumers derive from all units of the good consumed. c. The total area above the demand curve for a product is equal to consumer surplus. d. At every quantity, the height of the demand curve for a product represents the cost of producing that unit.
Can central bankers set short-term interest rate targets and still control inflation in the long run or are these goals mutually impossible? Explain.
What will be an ideal response?