If a country's population grows at the same rate as its real GDP, then real per capita GDP:
a. grows at an increasing rate.
b. grows at a constant rate.
c. doesn't change.
d. decreases at a decreasing rate.
e. decreases at a constant rate.
c
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Refer to Figure 4.8. This game will end up with
A) everyone at the beach. B) everyone at the park. C) half of your friends at the beach and half at the park. D) either a or b
Holding everything else constant, a country's exports will decrease if the:
A) country's currency appreciates. B) country's currency depreciates. C) country's currency is revalued. D) none of the above.
There are thousands of broadband internet providers in the country, while in a particular city the only way you can get it is through the phone, the cable company, or through DIRECTV. The best model to analyze this market is
A. monopoly. B. oligopoly. C. perfect competition. D. monopolistic competition.
A price ceiling is
A. above the initial equilibrium price. B. the maximum legal price that can be charged in a market. C. the minimum legal price that can be charged in a market. D. equal to the initial equilibrium price.