Assuming relative PPP, fill in the table below:
What will be an ideal response?
Using ( - )/ = ΠUS, t - ΠE, t one gets:
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GA 400 is a state highway that runs through part of Atlanta,GA. In order to travel on one portion of GA 400, drivers are required to pay a toll. It follows that section of GA 400 will exhibit non-rivalry in consumption if
a. the road is congested. b. the road is not congested. c. the toll is decreased. d. the the toll is completely removed.
Briefly define real and potential GDP, and explain the relationship between real GDP and potential GDP. How can we measure potential GDP?
What will be an ideal response?
In the above figure, if income is $8, the initial price of a soft drink is $1, and the initial price of a milkshake is $2, a decrease in the price of a milkshake to $1 will move the consumer from point ________ to point ________
A) a; b B) b; c C) a; d D) a; c
If you have a comparative advantage in a particular task, then:
A. you have specialized in that task, while others have not. B. you complete it faster than other people. C. you give up less to accomplish that task than do others. D. you give up more to accomplish that task than do others.