If national real GDP grows at twice the rate of population growth,
a. c and e.
b. eventually there will be too much GDP.
c. per real capita GDP will double each year.
d. per real capita GDP will be reduced by half each year.
e. per real capita GDP growth will double each year.
e
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Luis wonders why commercials appear more frequently at the end of a TV movie than at the beginning. Carol says that this pattern can be explained by the
a. share of the viewer's budget spent on TV watching b. length of the adjustment period c. cost of supplying additional minutes of the movie d. high elasticity of demand for watching the end of a TV movie e. availability of substitutes
Among the different stages of red wine production (selection of grapes, crushing, fermentation, blending and fining, adding preservatives, filtration and bottling), the first stage-selection of grapes is called the downstream and the final stage-packaging/bottling is called the upstream
Indicate whether the statement is true or false
Evidence of a chronic balance of payments deficit is:
A. a decline in amount of the nation's currency held by other nations. B. an excess of exports over imports. C. diminishing reserves of foreign currencies. D. an increase in the international value of the nation's currency.
Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.Equilibrium in this market occurs at the intersection of curves S and D.
Figure 4.6Refer to Figure 4.6. If price is P1, the deadweight loss due to under production is area
A. C + F B. E + G. C. F + G. D. A + C.