These two countries adopted reforms that liberalized their economies during the 1960s and they eventually became two of the world's freest economies. The two economies are
a. Russia and India.
b. Nigeria and Zimbabwe
c. Hong Kong and Singapore
d. Brazil and Venezuela
C
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List and briefly describe the five factors of production
What will be an ideal response?
The Fed is concerned that inflation might occur. To help eliminate this possibility, the Fed could ________ government securities to ________ the federal funds rate in the short run
A) buy; raise B) sell; not change C) sell; lower D) buy; lower E) sell; raise
The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. What is the average total cost of producing 4,500 frijoles?
A) $2 B) $225 C) $9000 D) More information is needed to determine the answer.
Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.
Figure 12.4There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S0 and D0.Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, a new general equilibrium will eventually be reached in sector X with a price of ________ and a quantity of ________.
A. P0; Q0 B. P1; Q0 C. P0; > Q1 D. P1; Q1