The Latin American region has more economic equality than the high-growth Asian economies because nations are more democratic
Indicate whether the statement is true or false
FALSE
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The net decline in a country's stock of international reserves over a year is called a(n):
A. trade deficit. B. trade surplus. C. balance-of-payments surplus. D. balance-of-payments deficit.
Which of the following statements is correct?
a. The benefits that accrue to a monopoly's owners are equal to the costs that are incurred by consumers of that firm's product. b. The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing monopoly firm produces a quantity of output that exceeds the socially-efficient quantity. c. The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a product. d. The primary social problem caused by monopoly is monopoly profit.
An expected future increase in the price of bananas may
A. make bananas an inferior good. B. increase the demand for bananas now. C. increase the supply of bananas now. D. decrease the demand for bananas now.
Refer to the information. The per-unit cost of production in this economy is:
Answer the question on the basis of the following information. An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labor to produce its total output of 640 units. Each unit of capital costs $10; each unit of raw materials, $4; and each unit of labor, $3. A. $0.05. B. $0.10. C. $0.50. D. $1.00.