Use the following table to answer the next question.YearAltaZornAltaZorn?(Real GDP)(Real GDP)(Population)(Population)1$2,000$150,00020050022,100152,00020250532,200154,000210508Between years 2 and 3
A. Alta's real GDP grew more rapidly than Zorn's real GDP.
B. real GDP fell in Zorn.
C. population fell in Alta.
D. population growth reduced Alta's real GDP growth to zero.
Answer: A
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It is often argued that gas stations operate inefficiently because they have "excess capacity" in the form of more pumping stations than they would otherwise need if they were operating under conditions of perfect competition
However, can you think of any reason why a gas station franchise owner would wish to install more pumps than he knows will rarely if ever be fully utilized at any one time? Can you explain the economic logic of this "apparent" wastefulness?
American consumers decide to boycott grapes in support of the farm workers' union. Everything else being equal, the
a. price of grapes will rise. b. supply of grapes will fall. c. quantity supplied of grapes will fall. d. demand curve for grapes will shift to the right.
When a small, initially closed country engages in free trade
A. its production-possibility curve shifts inward. B. it experiences a much slower economic growth. C. it always experiences a balanced growth. D. it is not likely to suffer from immiserizing growth.
What are the factors that have been identified that affect a migration decision? Give examples of each
What will be an ideal response?