Which of the following countries has achieved the highest average annual rate of growth of real GDP from 1960 to 2007?
A)Canada
B)United States
C)South Korea
D)United Kingdom
C)South Korea
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Generic drugs enter the pharmaceutical drug market once
a. the ingredients to the name brand drug have been discovered. b. 10 years have passed. c. they are patented. d. the patent on the name brand drug expires.
Structural policy refers to:
A. decisions to determine the government's budget. B. government policies aimed at changing the underlying structure or institutions of the economy. C. policy directed toward increasing exports and reducing imports. D. the determination of the nation's money supply.
Refer to the figure below.
If a price ceiling were imposed at $4, total economic surplus would be ________, which is ________ less than when the market is unregulated market.
A. $8; $24 B. $24; $16 C. $24; $8 D. $48; $8
The term “stagflation” was invented in the 1970s to describe an economy experiencing both
A. deflation and economic stagnation. B. inflation and economic stagnation. C. high inflation and high employment. D. high inflation and high levels of economic growth.