Developing countries have:
A. different normative economic goals than developed countries, because they have much lower per capita incomes.
B. different normative economic goals than developed countries, because they have less unemployment.
C. the same normative economic goals as developed countries, even though they have much lower per capita incomes.
D. different normative economic goals than developed countries, because they have lower inflation.
Answer: A
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Use the following information to answer the next question.C = A + .75(Y - T)A = $900I = $600G = $400T = $400NX = -$200What is the equilibrium level of real GDP?
A. $5,600 B. $8,000 C. $5,200 D. $7,200
Which of the following statements about a non-discriminating monopoly firm is correct?
a. It charges a price greater than its marginal cost. b. Its high prices generate inflation. c. It charges a price that maximizes its total revenues. d. As a price setter, it can ignore market demand. e. It has no incentive to produce each output level at the lowest possible cost.
If the price level rises from 125 to 150 from one year to the next, then the rate of inflation that year is 25 percent.
Answer the following statement true (T) or false (F)
Put the following products in order from lowest to highest based on their cross-price elasticity of demand with peanut butter: bread, bologna, floppy disks. Justify your answer.
What will be an ideal response?