What is economic growth?
What will be an ideal response?
Economic growth refers to the ability of the economy to increase the production of goods and services.
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In the short run, a tax on economic profits can be shifted.
A. True B. False C. Uncertain
According to evidence from around the world, the real losers in globalization of the world economy are:
a. non-government organizations. b. environmental activists. c. skilled laborers in the globalizing nations. d. countries that have not participated in the globalization process. e. the poorest people in the globalized developing countries.
A market situation in which a large number of firms produce similar but not identical products is
A) a monopoly. B) an oligopoly. C) monopolistic competition. D) perfect competition.
A small open economy reduces its desired saving. This causes the world real interest rate to ________ and the country's current account balance to ________.
A. fall; fall B. remain unchanged; fall C. remain unchanged; rise D. fall; rise