Which of the following is a criticism of the neoclassical counter-revolution school's approach?
a. markets are not competitive in developing countries.
b. externalities are common in developing countries.
c. inequality may worsen when interventions are removed in developing countries.
d. all of the above.
D
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If the economy is at point R, most likely this economy is experiencing __________.
A cellphone maker sells 6,000 units per month at $600 each. The firm is investigating whether a price cut to $500 is warranted. The firm’s marginal cost of production of each phone is a constant $400 per unit. To maintain profits at their current level, quantity sold must increase to at least
A. 8,000 B. 10,000 C. 12,000 D. 15,000
If British real GDP fell, there would be
a. a rightward movement along the supply of British pounds curve in the dollar-pound market b. a leftward movement along the supply of British pounds curve in the dollar-pound market c. an increased supply of British pounds to the dollar-pound market d. a decreased supply of British pounds to the dollar-pound market e. the tendency for the supply of British pounds curve to become steeper in the dollar-pound market
In the economy of Talikastan in 2015, consumption was $5000, exports were $400, government purchases were $1000, imports were $600, and investment was $1200 . What was Talikastan's GDP in 2015?
a. $6200 b. $6400 c. $7000 d. $8200