Which of the following is a true statement?
a. The LDC classification is of the questionable accuracy.
b. GDP per capita ignores the degree of income distribution.
c. GDP per capita is affected by exchange rate changes.
d. GDP per capita does not account for the difference in the cost of living among nations.
e. All of these are true.
e
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Your textbook uses the "bite, chew, choke" story to explain
A) how restrictive monetary policy leads to a recession. B) how expansionary monetary policy ultimately leads to a recession. C) how restrictive fiscal policy leads to a recession. D) how expansionary fiscal policy ultimately leads to a recession.
An answer to the question "How are goods produced?" determines:
A) who receives the goods that are produced. B) how tastes and preferences are determined. C) how resources are combined in the production of goods. D) the types and quantities of goods and services produced.
Suppose that Figure 10.4 shows a monopolist's demand curve, marginal revenue, and its costs. The monopolist would maximize its profit by producing a quantity of:
A. 30 units. B. 50 units. C. 60 units. D. There is not sufficient information.
Refer to the information provided in Figure 3.19 below to answer the question(s) that follow.
Figure 3.19Refer to Figure 3.19. The market is initially in equilibrium at Point A. If supply shifts from S1 to S2, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. $7.00; 7 B. $7.00; 6 C. $5.00; 10 D. $5.00; 4