The emergence of English as the de facto world language ________ a comparative advantage in the production of books, movies and popular music.
A. has given non-English-speaking countries
B. has no effect on which country has
C. has given English-speaking countries
D. has given all countries
Answer: C
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Economic growth is measured by the annual percentage increase in a nation's level of:
a. nominal GDP. b. real GDP. c. real GDP deflator. d. economic indicators.
If the typical perfectly competitive firm is earning an economic profit in the short run, then in the long run:
a. new firms will enter. b. market supply will decrease. c. market price will increase. d. each firm will earn an economic loss.
Restaurants will add high-price food items to the menu to lure diners to choose foods just below the high-price items. These items generally have the highest profit margin. This is an example of:
A. choice architecture. B. enlightened self-interest. C. price discrimination. D. irrational behavior.
In the Keynesian model, whenever planned saving is more than planned investment
A. there will be unplanned inventory depletion. B. there will be unplanned inventory accumulation. C. the interest rate will remain unchanged. D. real GDP will not be influenced.