No government that receives foreign aid sells products to its people
a. True
b. False
Indicate whether the statement is true or false
False
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An increase in the price level shifts the AE curve
A) upward and shifts the AD curve leftward. B) upward and shifts the AD curve rightward. C) downward and shifts the AD curve rightward. D) downward and does not shift the AD curve. E) downward and shifts the AD curve leftward.
The growth accounting equation is
A) Y = AaKK aNN B) Y = AF(K, N) C) ?Y/Y = ?A/A + aK?K/K + aN?N/N D) ?Y/Y = ?A/A - aK?K/K - aN?N/N
Discuss the second welfare theorem. How can societies use competitive markets to achieve both efficiency and equity?
What will be an ideal response?
Refer to Scenario 9.3 below to answer the question(s) that follow. SCENARIO 9.3: Investors put up $520,000 to construct a building and purchase all equipment for a new restaurant. The investors expect to earn a minimum return of 10 per cent on their investment. The restaurant is open 52 weeks per year and serves 900 meals per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly). Included in the fixed costs is the 10% return to the investors and $1,000 per week in other fixed costs. Variable costs include $1,000 in weekly wages and $600 per week for materials, electricity, etc. The restaurant charges $5 on average per meal. Refer to Scenario 9.3. The normal return to the investors on a weekly basis is
A. $600. B. $1,000. C. $3,600. D. $4,500.