If an economy's population grows at 3 percent and GDP grows at 4 percent, then:
a. per capita real GDP is declining.
b. the economy's standard of living is decreasing.
c. per capita real GDP is negative.
d. per capita real GDP is growing.
e. the economy is experiencing unemployment.
d
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There is no evidence that odd pricing succeeds in convincing consumers that prices are lower than they really are
Indicate whether the statement is true or false
The net balance of payments is
A. The difference between exports and imports. B. The difference between the current account balance and the capital account balance. C. The sum of the current account balance and the capital account balance. D. The sum of the current account balance and the trade account balance.
A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that
A. profits are positive for a monopolistically competitive firm and zero for a perfectly competitive firm. B. the demand curve faced by a monopolistically competitive firm is downward sloping, while the demand curve faced by a perfectly competitive firm is horizontal. C. marginal cost equals the market price for a monopolistically competitive firm but not for a perfectly competitive firm. D. profits are zero for a monopolistically competitive firm and positive for a perfectly competitive firm.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.