Which of the following economic indicators is used by the World Bank to classify countries as industrial or emerging economies?
a. GDP
b. Rate of inflation
c. Net exports
d. Per capita income
e. Budget deficits
d
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Which of the following contributes to the efficiency of markets?
A) Markets promote competition and voluntary exchange. B) Markets are able to bring about an equitable distribution of goods and services. C) Governments play an active role in the day-to-day operations of markets. D) Markets promote equal standards of living.
Other things the same, an economy's factors of production are likely to be used more effectively if there is an economywide respect for property rights
a. True b. False Indicate whether the statement is true or false
You borrow $20,000 at an interest rate of 6% to open Candy Dan's, a gourmet sweet shop. If the return on your investment is ________, then you will earn an economic loss.
A. less than 6% B. exactly 6% C. greater than 6% D. It is indeterminate from the given information.
If Holland decreases subsidies to its tulip growers, the price of tulips in the United States will rise.
Answer the following statement true (T) or false (F)