In many less-developed countries, per capita GDP falls even though real GDP rises, because:
a. output grows at a slower rate than the population.
b. the GDP measures in developing countries are always inaccurate.
c. consumption spending exceeds investment spending.
d. these countries face an acute trade deficit.
e. prices increase faster than an increase in actual output level.
a
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Use the figure above to answer this question. Mary is the only veterinarian in a small town. To maximize her profit, Mary will choose to treat ________ animals per hour and charge ________ per customer in order to ________
A) 4; $50; maximize profit B) 6; $20; maximize profit C) 6; $30; minimize average total cost D) 4; $50; operate on the inelastic portion of her demand curve E) 6; $20; minimize cost in order to attract more customers
What does it mean when the dollar appreciates? What does it mean when the dollar depreciates?
What will be an ideal response?
Resources that flow through the circular flow model include all of the following except:
A. land. B. labor. C. capital. D. final goods.
The four-firm concentration ratio measures the:
A. percentage of total output in a market produced by the four largest firms. B. elasticity of demand of the four largest firms in an industry. C. average cost of the four largest firms in an industry. D. number of firms in an industry.