Economic growth is considered to have occurred whenever real GDP per capita has ______.
a. fluctuated
b. risen
c. fallen
d. remained constant
b. risen
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A scatter diagram shows the
A) level of one variable over time. B) change in one variable over time. C) relationship between two variables. D) evolution of a variable.
Monique buys a new television for $795. She receives consumer surplus of $355 from the purchase. How much does Monique value her television?
A) $355 B) $440 C) $795 D) $1150
A sudden and pronounced loss of value of one nation's currency against others is known as a:
a. currency crisis. b. forced devaluation. c. thinning of value. d. default.
A key theme fundamental to all of economics is:
A) there are limited wants. B) we are a rich country but are simply not aware of it. C) people have unlimited wants facing limited means to satisfy them. D) there are unlimited resources.