Compared to First World countries, developing countries would have _____
a. a higher life expectancy
b. higher productivity rates
c. lower education levels
d. lower birthrates
e. a higher rate of private investment
c
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In an open economy, domestic investment equals:
A. domestic saving plus net capital outflows. B. domestic saving. C. net capital inflows. D. domestic saving plus net capital inflows.
When price is above the equilibrium level, suppliers offer more than demanders wish to buy.
Answer the following statement true (T) or false (F)
Let MP = marginal product, P = output price, and W = wage, then the equation that represents a situation where a competitive firm should lay off some workers to maximize profits is
A) P × MP > W. B) P × MP < W. C) MP × W = P. D) P × MP = W.
Price supports can help farmers to better compete internationally
Indicate whether the statement is true or false