What country in pacific Asia region has one of the worlds largest economies?
a. China
b. Japan
c. India
d. South Korea
e. Indonesia
China
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Assume that the full-employment level of output is $600 and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $550 and at the price level of 100 current aggregate demand is $465. If the government wants to move the economy back to the full-employment level of output and the MPC is 0.9, then it should reduce taxes by
A. $50. B. $5. C. $15. D. $135.
A craze for apples in Riverdale increases the quantity demanded at every price by five bushels. Between any two prices, the new demand curve will be ____ the old demand curve.
A. more elastic than B. less elastic than C. equal in elasticity to D. More information is needed to predict the relationship.
The point price elasticity of demand is -1/2. The price of the product increases from $1.00 to $1.10. Given the information in Scenario 4.3, the quantity demanded will decrease by approximately:
A) 5 units. B) 5 percent. C) 10 units. D) 10 percent. E) none of the above
A kinked demand curve indicates that rival oligopolists match all
A. Price increases. B. Increased advertising. C. Advertising reductions. D. Price reductions.