Which of the following is most important if a country is going to achieve and sustain rapid economic growth?
What will be an ideal response?
institutions and policies that are supportive of competition (open markets) and freedom of exchange
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The production possibilities frontier can show a manufacturer’s possible combinations of output resulting from the combination of two goods.
Answer the following statement true (T) or false (F)
Paulette owns a pizza parlor. Her total cost schedule is in the above table. Her marginal cost of producing the fifth pizza is
A) $8. B) between $8.01 and $10.00. C) between $10.01 and $14.00. D) between $14.01 and $78.00. E) more than $78.01.
Financial markets quickly eliminate unexploited profit opportunities through changes in
A) dividend payments. B) tax laws. C) asset prices. D) monetary policy.
A decrease in real GDP would affect the U.S. economy by:
a. cutting tax revenues and raising government expenditures. b. cutting government expenditures and raising tax revenues. c. raising both tax revenues and government expenditures. d. cutting both government expenditures and tax revenues.