Which of the following is NOT a characteristic of a monopolistically competitive market?
A. Firms hold patents on their products.
B. The products that firms sell are slightly different.
C. Firms have some control over price.
D. There are no artificial barriers to entry.
Answer: A
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Of the following views on the effects of immigration on the receiving nation's economic growth, which have NOT been suggested by economists Michael Kremer and Julian Simon?
A) Technological progress is driven by population growth. B) Immigration increases a nation's labor pool and encourages ingenuity. C) Immigration costs the local population jobs and greatly lowers their incomes. D) Immigrants raise the standard of living of a nation's native population.
Discuss how remittances can help reduce poverty and meet other development objectives in recipient nations?
What will be an ideal response?
Assume that you assign the following subjective probabilities for your final grade in your econometrics course (the standard GPA scale of 4 = A to 0 = F applies): Grade Probability A 0.20 B 0.50 C 0.20 D 0.08 F 0.02 The expected value is:
A) 3.0 B) 3.5 C) 2.78 D) 3.25
After a business cycle trough a recovery follows
A. all of the time. B. most of the time. C. some of the time. D. none of the time.