If the social value of producing robots is greater than the private value of producing robots, the private market produces too few robots
a. True
b. False
Indicate whether the statement is true or false
True
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Variability in exchange rates of currencies used in international trade
a. causes a complete breakdown of trade. b. renders the theory of gains from trade null in practice. c. brings with it a host of complications in trade policy. d. has no impact on trade.
The per capita incomes of countries in the quartile with the most economic freedom during 1980-2010 were
a. slightly lower than those of the quartile of countries with the least economic freedom. b. about the same as the quartile of countries with the least economic freedom. c. about twice those of the countries with the least economic freedom. d. about eight times those of the quartile of countries with the least economic freedom.
Nonactivists favor
A) the use of fiscal policies to manage the economy. B) the use of monetary polices to manage the economy. C) fine-tuning. D) rules for conducting monetary and fiscal policies.
Over the past decade, a nation's real Gross Domestic Product (GDP) grew at a constant rate of 9 percent per year while its population grew 8 percent annually. Forecasters predict that during the coming decade, real GDP will continue to grow 10 percent annually, but the population growth rate is expected to drop to 7 percent annually. If the forecasters are correct, which of the following will be TRUE?
A. The annual rate of growth of per capita real GDP will increase from 1 percent to 3 percent. B. The annual rate of growth of per capita real GDP will decline from 2 percent to 1 percent. C. The annual rate of growth of per capita real GDP will increase from 1 percent to 8 percent. D. The annual rate of growth of per capita real GDP will decline from 3 percent to 2 percent.