The industrialized group of countries has growth rates that are consistent with the findings of the economic growth model
That is, Taiwan, Korea, and Singapore had ________ incomes in 1960 than the United States and Switzerland, and Taiwan, Korea, and Singapore grew ________ than the United States and Switzerland between 1960 and 2010.
A) lower; more rapidly B) greater; more rapidly
C) greater; less rapidly D) lower; less rapidly
A
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What makes up M1? Is M1 larger or smaller than real GDP?
What will be an ideal response?
The recession of 2007-2009 decreased the demand for imports in Japan, which caused the ________ curve for the yen to shift to the ________, increasing the exchange rate and the value of the yen
A) demand; left B) supply; right C) supply; left D) demand; right
The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that output level in which:
a. total revenue is maximized. b. total cost is minimized. c. marginal cost is minimized. d. marginal revenue equals marginal cost.
The statement, "John buys more of good X as his income increases, ceteris paribus," means
a. John's income is being held constant. b. John's purchases of good X are being held constant. c. John's income and purchases of this good are being held constant. d. John's income is the only influence that is being allowed to change. e. the price of this good is being allowed to change.