Statistics show that countries with the lowest rates of economic growth have a strong outward-oriented development strategy
a. True
b. False
Indicate whether the statement is true or false
False
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Rational people having preferences for immediate benefits and delayed costs is another way of saying that:
A. money is worth less to us now than in the future. B. money is worth more to us now than in the future. C. the value of money does not change over time. D. rational people have insatiable wants.
Which of the following falsely describes a nondiscriminating monopolist at profit maximization?
a. Price is greater than marginal cost. b. Economic profit is always positive. c. Marginal revenue is equal to marginal cost. d. Marginal revenue will typically be less than price. e. Average total cost will not be at a minimum.
From the perspective of the classical model, many economists would say that the most important automatic stabilizer is
a. taxes b. imports c. interest rates d. transfer payments e. passage of time
The United States Congress of Industrial Organizations was born as a result of all of the following except
a. minimum wage laws that brought increased competition to unionized workers b. the industrial growth brought about by technological change c. craft orientation being an impediment to further union growth d. the need for broader representation of workers with very different skills and occupations but belonging to a common industry e. the failure of craft unions to restructure its orientation according to the needs of industrial workers