North Korea has ____________ the process of globalization, while South Korea has _______________ it. A likely result of this is that South Koreans have a much ______________ standard of living than North Koreans
A) embraced; avoided; higher
B) embraced; avoided; lower
C) avoided; embraced; lower
D) avoided; embraced; higher
D
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In the case before her, Judge Thomas has heard claims by orange growers that to order a stop to orange growing in order to control a pest that thrives on oranges plants but does not harm them would result in a loss of profits of $3 million a year. The pest however causes $2 million of damages to trees owned by pulp manufacturers. The orange growers have not mentioned that they could control the pest at a cost of $1 million per year. High transactions costs have prevented the parties from reaching a private agreement. If she gives the property right to the
a. orange growers, they will then voluntarily control the pest. b. orange growers, they will not control the pest. c. pulp manufacturers, they will pay the orange growers to control the pest. d. pulp manufacturers, the orange growers would offer a side payment of at least $2 million to be able to grow oranges.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Explain the differences between real GDP and nominal GDP
What will be an ideal response?
Suppose a bank has $200,000 in deposits and a reserve ratio of 15 percent. Its required reserves are
A) $350. B) $1,500. C) $3,000. D) $30,000.