The dual nature of most developing countries implies that:
A. their financial sectors are not integrated into Western financial markets.
B. only a portion of their financial sectors are integrated into Western financial markets.
C. their financial sectors are similar to Western financial markets.
D. their financial sectors are fully integrated into Western financial markets.
Answer: B
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The mechanism that normally coordinates what goes on in an economy is the
A) government. B) Federal Reserve. C) price system. D) stock market.
What happens to the MP of labor when the market price of the good produced increases?
a. Increases proportional to price. b. Decreases proportional to price. c. Stays the same. d. Falls because quantity demanded falls.
When an economics student draws a supply and demand diagram to model an increase in the income, she is assuming this change happens
A. ceteris paribus. B. ipso facto. C. semper fidelis. D. de facto.
Which of the following statements is true?
A) As an economy experiences growth in GDP, the rate of unemployment is expected to decrease. B) As an economy experiences growth in GDP, the rate of unemployment is expected to increase. C) The unemployment rate in a country always remains constant. D) The unemployment rate in a country is not correlated with the level of economic activity in the country.