Statistics show that the ________ a country is, the ________ is the share of agricultural output in its total output.
A. less populated; smaller
B. more developed; larger
C. more populated; smaller
D. more developed; smaller
Answer: D
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A monopolist maximizes its profit by producing the amount of output that sets
A) total revenue equals total cost. B) marginal revenue equals marginal cost. C) marginal revenue equals zero. D) price equals marginal cost.
Suppose that you intend to invest $10,000 in one-year government bonds. You are looking for the highest return on your investment and do not care whether you invest in the United States or Japan, but as a U.S
resident, you want your investment return to be in U.S. dollars. Assume the current interest rate on one-year government bonds is 3% in the United States and 7% in Japan, the current exchange rate is ¥100 = $1, and the expected exchange rate in one year is ¥110 = $1. a. What is your return on Japanese bonds? b. Would you have been better off investing in Japanese bonds or U.S. bonds? Explain. c. For the interest parity condition to hold, what would have to happen to the interest rate on Japanese bonds, assuming all other data remains the same?
Majority rule will produce the outcome most preferred by the median voter, as demonstrated by the
a. Arrow impossibility theorem. b. Condorcet paradox. c. pairwise voting proposition. d. median voter theorem.
The demand curve illustrates the fact that consumers tend to purchase:
A. more of a good as its price falls. B. name-brand products more frequently than generic products. C. more of a good as it becomes more popular. D. more of a good as their incomes rise.