Padma’s country is poor and has experienced very little economic growth over the past 20 years. Based on this information, the country’s system of government during this period ______.
a. cannot be determined
b. was probably unstable
c. was most likely authoritarian
d. was most likely democratic
a. cannot be determined
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Alice and Gene work in the mailroom, sorting and delivering mail. In order for them to benefit from specialization and trade, Alice must
A) be able to both sort and deliver faster than Gene. B) be equally productive in both sorting and delivering. C) have a comparative advantage in both sorting and delivering. D) have a comparative advantage in one task and Gene must have a comparative advantage in the other task. E) be equally productive as Gene in both sorting and delivering.
Monopolistic competition is characterized by: a. one firm selling several products
b. many firms selling the same product. c. many firms selling slightly different products. d. one firm selling one product.
You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 50 + 3Q2. Your firm's maximum profits are:
A. 450. B. 250. C. 400. D. 500.
In 2012, the capital account in the U.S. balance of payments was in:
A. deficit, and larger than the current account deficit. B. surplus, and larger than the current account surplus. C. balance, with no deficit or surplus. D. deficit, and smaller than the current account deficit.