Country A's income per capita is higher than that of Country B. Country A is likely to have ________
A) a higher life expectancy at birth B) a lower life expectancy at birth
C) a higher exchange rate D) a higher unemployment rate
A
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The tobacco industry is an example of an oligopoly market structure
Indicate whether the statement is true or false
When using rational expectations, forecast errors will, on average, be ________ and ________ be predicted ahead of time
A) positive; can B) positive; cannot C) negative; can D) zero; cannot
The country of Glassen has experienced an expansionary gap for the last three years. The advocates of passive policy are likely to suggest a policy which causes _____. a. the short-run aggregate supply to shift to the left
b. the short-run aggregate supply to shift to the right. c. rising prices to shift the aggregate demand to the left. d. wages to fall relatively quickly. e. aggregate demand to shift to the right as wages increase.
The lack of long-term economic development prevalent among many LDCs is evidence that relatively efficient economic markets may lead to socially undesirable outcomes
Indicate whether the statement is true or false