India's rapid growth can be explained by
A) reduced regulations and market-based reforms.
B) investment in human capital from 1947 through 2017.
C) the movement of workers from the agricultural sector to the manufacturing sector.
D) an increase in labor force participation.
Answer: A
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The economic perspective focuses largely on marginal analysis, which means analyzing:
A. Peripheral elements of a given issue or action B. The minor aspects of a given issue or decision C. The changes in the situation that would result from a given action D. Emotional and psychological facets of a given action
Tariffs:
A. may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). B. are also called import quotas. C. are excise taxes on goods exported abroad. D. are per-unit subsidies designed to promote exports.
If an individual perfectly competitive firm charges a price above the industry equilibrium price, it will
A. not sell any of what it produces. B. sell all that it can produce and gain equal revenue with competitors. C. sell part of what it can produce and gain less revenue than competitors will. D. sell all that it can produce and gain more revenue than competitors.
If the stock market booms, consumption will rise.
Answer the following statement true (T) or false (F)