Arianna’s country invests in new technologies and makes sure that its citizens get a good basic education and adequate health care. What is likely happening as a result?
a. The population of the country is growing rapidly.
b. The country’s rate of economic growth is slowing.
c. The output per average worker is increasing.
d. The country’s physical capital is decreasing.
c. The output per average worker is increasing.
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Refer to Figure 2-13. Which country has a comparative advantage in the production of pineapples?
A) Costa Rica B) They have equal productive abilities. C) Guatemala D) neither country
Suppose a market is initially competitive with many firms selling an identical product. Over time, however, suppose the merging of firms results in the market being served by only three or four firms selling this same product. As a result, we would expect
a. an increase in market output and an increase in the price of the product. b. an increase in market output and an decrease in the price of the product. c. a decrease in market output and an increase in the price of the product. d. a decrease in market output and a decrease in the price of the product.
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.
Given the information in the table below, find the marginal utility and the total utility.
