Research suggests that the relatively higher rate of growth of output per capita between in China between 1996 and 2011 was the result of which of the following?
A) an increase in the rate of technological progress
B) an increase in K/NA
C) an increase in the rate of growth of N
D) an increase in the saving rate
E) both A and D
E
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Imperfect price discrimination occurs when a monopolist:
A. price discriminates but some buyers pay less than their reservation price. B. charges all buyers exactly their reservation price. C. price discriminates but some buyers pay more than their reservation price. D. charges a single price to all buyers.
The most widely used measure of inflation is based on which of the following price indices?
A) the consumer price index B) the GDP deflator C) the producer price index D) the wholesale price index
Nominal rates of protection
A) are always greater than effective rates of protection. B) are always smaller than effective rates of protection. C) refer to the tariffs placed on intermediate goods used to make the final good or service. D) cannot be negative.
When a country gains from trade:
A. everyone in that country benefits from the trade. B. the net gain of surplus is positive for that country. C. the total producer surplus increased in the country. D. the total consumer surplus increased in the country.