Small, open economies are probably more vulnerable to contagion than large, relatively closed economies.
Answer the following statement true (T) or false (F)
True
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Refer to the scenario above. Which country has the lowest income per capita in PPP-adjusted dollars?
A) Country 1 B) Country 2 C) Country 3 D) Country 4
Assuming the market is in equilibrium in the graph shown with demand D and supply S1, total surplus is:
A. greater than total surplus when market is in equilibrium at D and S2.
B. less than total surplus when market is in equilibrium at D and S2.
C. the same as total surplus when market is in equilibrium at D and S2.
D. zero.
The key element in preserving a monopoly is keeping rivals out of the market.
Answer the following statement true (T) or false (F)
The Keynesian revolution
a. was an attack on the classical supply-determined, full-employment theory of output and employment. b. attacked the quantity theory of money. c. shared with the classical model the belief that prices and wages are perfectly flexible. d. All of the above e. both a and b.