Refer to Figure 18.3. Livonia has a comparative advantage in the production of
A) pogo sticks. B) scooters.
C) both scooters and pogo sticks. D) neither scooters nor pogo sticks.
A
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A lower price level causes the C + I + G + X curve to shift as a result of a change in all the following EXCEPT
A) an increase in real wealth. B) an increase in foreign spending on domestic goods. C) an increase in aggregate supply. D) a decrease in interest rates.
The long-run average cost curve shows
A) the average cost of producing where diminishing returns are not present. B) the plant size or scale that the firm should build. C) the lowest average cost of producing every level of output in the long run. D) where the most profitable level of output occurs.
From the quantity equation we find that the rate of inflation is equal by definition to the growth rate of nominal GDP ________ the growth rate of real GDP
A) minus B) plus C) multiplied by D) divided by
What is the rate of return on a bond with a coupon of $55 that was purchased for $900 and sold one year later for $950?
A) 5.56% B) 6.11% C) 11.67% D) 12.43%