Convergence means that
A) if poor countries grow fast, then fast growing countries are poor.
B) all countries grow at the same rate.
C) all countries tend towards the same per capita income.
D) the savings rate is positively related to per capita income.
C
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Whether or not a production process shows economies of scale depends on
A. the number of inputs used. B. technology. C. technology and input prices. D. technology and output prices.
Republicans often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Decrease government spending B. Increase government spending C. Tax cuts D. Encourage the public to save more
The primary claim of defenders of advertising is that it
a. conveys information about firm profitability. b. is psychological rather than informational. c. enhances the information available to consumers. d. reduces the elasticity of demand for a firm's product.
As lumber becomes more expensive
A. the quantity of lumber demanded will increase. B. the equilibrium quantity of new houses will decrease. C. the supply of new houses will increase. D. None of the choices are correct.