The combined GDP of developing countries constitutes approximately
a. 5 percent of global GDP.
b. 20 percent of global GDP.
c. 30 percent of global GDP.
d. 40 percent of global GDP.
D
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__________________ is attained when the maximum possible output of any one good is produced, given the output of other goods.
A. Productive efficiency B. Economic growth C. Opportunity cost D. Employment discrimination
In monopolistically competitive markets in long run equilibrium: a. more than the efficient level of output will be produced because price exceeds marginal cost
b. less than the efficient level of output will be produced because price exceeds marginal cost. c. more than the efficient level of output will be produced because marginal revenue exceeds marginal cost. d. less than the efficient level of output will be produced because marginal revenue exceeds marginal cost.
In the U.S. a delivery van costs $30,000 . In Uruguay the same delivery van costs 720,000 pesos. The nominal exchange rate is 20 pesos per dollar. A. Find the real exchange rate. Show your work. B. In terms of dollars where is the television cheaper?
Happiness is ______ correlated with income.
a. positively b. negatively c. not d. universally