Which of the following is not a characteristic of less-developed countries?
a. a focus on production of consumption goods
b. low levels of investment in capital goods
c. political instability
d. a high percentage of the population under age 15
e. adequate infrastructure
E
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President Bush lowered taxes on capital gains and dividends in 2003. Explain how this might increase aggregate supply
What will be an ideal response?
The long-run aggregate supply curve represents the level of output possible if the economy:
A. is operating at full capacity. B. is operating at an unemployment rate of zero. C. has a zero inflation rate. D. has no structural unemployment.
A price-discriminating monopolist will tend to charge a lower price to students if it believes that students: a. have a lower willingness to pay than other demanders. b. have a greater willingness to pay than other demanders. c. have very elastic demand curves
d. have nearly vertical demand curves.
A stimulus to aggregate demand will normally pull prices up but cause a reduction in output
a. True b. False Indicate whether the statement is true or false