A good definition of the meaning of development is the
a. elimination of absolute poverty.
b. improvement in the quality of life.
c. fulfillment of the potential of individuals.
d. all of the above.
D
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An increase in the price level in the economies of U.S. trading partners will cause the aggregate expenditures function in the United States to
A. shift up. B. shift down. C. get flatter. D. get steeper.
Why did President George W. Bush feel the need for a stimulus package for the U.S. economy after September 11, 2001? As a conservative, what type of fiscal stimulus would be most appealing to President Bush?
What will be an ideal response?
On the cost side of the profit equation, a pure monopolist does not differ from a perfect competitor.
Answer the following statement true (T) or false (F)
Generally speaking, if a firm faces decreasing average total costs of production throughout its entire range of output, then:
A. More firms will enter the market B. It will be unable to remain in business C. The firm is a natural monopoly D. The firm is able to earn only a normal profit