The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________
A) the population of Country X is higher than the population of Country Y
B) the number of workers in country X is higher than the number of workers in Country Y
C) the population of Country X is lower than the population of Country Y
D) the number of workers in country X is lower than the number of workers in Country Y
C
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In November 2008, the Fed began its first round of quantitative easing. In total, the Fed conducted ________ rounds of quantitative easing before ending the program in October 2014
A) 2 B) 3 C) 4 D) 5
Refer to the above figure. Which panel shows a possible short-run equilibrium for monopolistic competition, but is not also a long-run equilibrium?
A) Panel A B) Panel B C) Panel C D) Panel D
The point at which the aggregate expenditure line intersects the vertical axis is determined by the marginal propensity to consume and real interest rate
a. True b. False Indicate whether the statement is true or false
The following include several reasons that government might give for using a tariff on imports? Which is not valid, in the sense that the effect described will not happen.
a. To raise government revenue. b. To help consumers. c. To raise incomes of producers. d. To respond to political pressures from import competing industries. e. To increase national welfare at the expense of foreigners.