To stimulate economic growth, it would be best if developing countries adopted policies to:
A. Discourage foreign investment
B. Subsidize state industries
C. Build more human capital
D. Increase population growth
C. Build more human capital
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If a firm faces a downward-sloping demand curve
A) it will always make a profit. B) the demand for its product must be inelastic. C) it can control both price and quantity sold. D) it must reduce its price to sell more units.
If a firm’s fixed costs increase, then profits drop but its output should not change.
Answer the following statement true (T) or false (F)
Refer to the above figure. If real Gross Domestic Product (GDP) is $2 trillion, then
A. the level of total planned expenditures is greater than real GDP. B. the level of total planned expenditures is less than real GDP. C. the level of total planned expenditures equals real GDP. D. the level of total planned expenditures equals zero.
Present value analysis suggests that the real rate of return on Social Security is
A. around 10% for workers of all income levels. B. roughly 3% for high-income earners and negative for low-income earners. C. more than 10% for high-income earners. D. roughly 3% for low-income earners and negative for high-income earners.