Andre’s country is democratic, which means that it ______.
a. has lower than average population growth
b. can grow its economy even without abundant natural resources
c. could be wealthier or poorer than the overall world average
d. usually enacts policies that are favorable to economic growth
c. could be wealthier or poorer than the overall world average
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Refer to Table 8-18. What is the GDP deflator in 2016 if 2016 is the base year?
A) 120 B) 118 C) 100 D) 87
The informal sector is characterized by
a. firms that don't pay their taxes b. firms from other countries that are not subject to local laws c. firms producing illegal goods d. firms that are small and often able to avoid many government regulations e. all of the above
Refer to Scenario 13.16. If Gooi moves first, the payoff in equilibrium will be
A) $150, $0. B) $150, $300. C) $400, $150. D) $50, $50. E) $650, $450.