When the U.S. real exchange rate appreciates, U.S. goods become
a. more attractive to consumers in the U.S. and abroad.
b. more attractive to consumers in the U.S. and less attractive to consumers abroad.
c. less attractive to consumers in the U.S. and abroad.
d. less attractive to consumers in the U.S. and more attractive to consumers abroad.
c
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National health care programs are not as effective as they could be because:
A. health care providers tend to have a high absentee rate. B. traditional Western medicine is largely untrusted in most parts of the developing world. C. many doctors in clinics do not have sufficient knowledge to properly diagnose patients. D. patients are not receptive to utilization of modern medicine in most nations.
The average cost curve
a. is the vertical summation of the AFC and the AVC curves. b. lies below the AVC curve. c. lies below the AFC curve. d. is the vertical summation of the MC and AVC curves.
A monopolistically competitive market is characterized by
a. free entry, but not differentiated products. b. differentiated products, but not long run profits. c. long run profits, but not many firms. d. many firms, but not free entry.
Jermaine’s country is relatively small and does not have many natural resources. Nonetheless, it has enjoyed strong economic growth and has become one of the 20 wealthiest countries in the world. How is this possible?
a. Abundant natural resources are often more harmful than helpful to economic growth. b. A lack of natural resources poses no barrier to economic growth. c. Economic growth is unrelated to the availability of natural resources. d. Natural resources are important, but sustained growth depends on other factors.