Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4
Refer to Table 21.4. The value for national income in billions of dollars is
A. 890.
B. 910.
C. 940.
D. 970.
Answer: A
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At lower interest rates the
A) money supply is lower. B) quantity of money demanded is higher. C) money supply is indeterminate. D) quantity of money demanded is lower.
Refer to Table 2-9. What is Haley's opportunity cost of making a bracelet?
A) 3/4 of a bracelet B) 1 1/3 necklaces C) 2 necklaces D) 3 bracelets
During the past 200 years, income per person has
a. increased in the developed countries of Western Europe and North America, but declined in the rest of the world. b. declined in the developed countries of Western Europe and North America, but increased in the rest of the world. c. increased far more rapidly in both developed and less developed countries than during the centuries prior to 1800. d. Increased far less rapidly in both developed and less developed countries than during the centuries prior to 1800.
Price-discriminating firms that sell in two markets will charge higher prices in the market, ceteris paribus,
A. With a higher positive cross-price elasticity of demand with respect to substitutes. B. With lower incomes. C. With the more price-inelastic demand. D. With the more income-elastic demand.