Many unsuccessful, low performing LDCs have all of the following characteristics except
a. political instability
b. reliance on custom and traditions
c. absence of infrastructure
d. high population growth
e. acceptance of new technology
E
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Implicit costs are
A. always greater in the short run than in the long run. B. composed entirely of variable costs. C. opportunity costs of using owned resources. D. equal to total fixed costs.
Rank-order the following three gifts in terms of potentially providing the highest utility to the lowest: 1 ) A new video game; 2 ) A gift card to a video game store; 3 ) Cash
A) 1, 2, 3 B) 2, 3, 1 C) 3, 2, 1 D) 1, 3, 2
Which of the following is most likely a fixed cost? a. Raw materials costs
b. Shipping charges. c. Property insurance premiums. d. Fuel costs for running the factory.
If the money multiplier decreased from 20 to 12.5, then
a. the Fed increased the reserve ratio from 5 percent to 8 percent. b. the Fed increased the fed funds rate from 5 percent to 8 percent. c. the Fed decreased the reserve ratio from 8 percent to 5 percent. d. the Fed decreased the fed funds rate from 8 percent to 5 percent.