Half of long-term external debt of developing countries is
A. sovereign debt.
B. debt overhang.
C. private debt owed by individual citizens.
D. rescheduled debt.
Answer: A
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If the nominal interest rate is ________ and the inflation rate is ________, the real interest rate is positive
A) zero; positive B) negative; zero C) zero; negative D) negative; negative
A single-price monopoly transfers
A) consumer surplus to producers. B) producer surplus to consumers. C) economic profit to consumers. D) economic profit to the government. E) economic profit to deadweight loss.
By producing less, a firm can reduce
A) its fixed costs and its variable costs. B) its fixed costs but not its variable costs. C) its variable costs but not its fixed costs. D) neither its variable costs nor its fixed costs.
What does the price elasticity of demand show?
In the market for sweaters, suppose Green's price elasticity of demand is 0.2, Smith's price elasticity is 1.2, and the price elasticity of all the other consumers is greater than 0.2 but less than 1.2 . Could the market price elasticity be less than 0.2 or greater than 1.2?