The growth rate of real GDP per capita in Mexico was negative in which of the following time periods?
A) 1980-1989 B) 1990-1999 C) 2000-2014 D) all of the above
A
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Refer to Figure 10-6. The loanable funds market is in equilibrium, as shown in the figure above
As a result of an increase in the government budget deficit, the ________ for loanable funds will ________, thereby ________ the equilibrium real interest rate and ________ the equilibrium quantity of loanable funds. A) supply; rise; decreasing; increasing B) demand; fall; decreasing; decreasing C) demand; rise; increasing; decreasing D) supply; fall; increasing; decreasing
Easy entry and exit cause oligopoly profits to be zero in the long run
a. True b. False Indicate whether the statement is true or false
Which of the following is not a characteristic of less-developed countries?
a. High rates of illiteracy. b. High unemployment. c. Over half of the labor force in agriculture. d. Low savings and investment rates. e. Low infant mortality rates.
Congressman Smith cites the "jobs argument" when he argues in favor of restrictions on trade; he argues that everything can be produced at lower cost in other countries. The likely flaw in Congressman Smith's reasoning is that he ignores the fact that
a. there is no evidence that any worker ever lost his or her job because of free trade. b. unemployment of labor is not a serious problem relative to other economic problems. c. the gains from trade are based on comparative advantage. d. the gains from trade are based on absolute advantage.