Assume that an economy experiences both positive population growth and technological progress. In this economy, which of the following is constant when balanced growth is achieved?
A) I
B) S
C) Y/N
D) all of the above
E) none of the above
E
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The market for apples is an example of ________
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
From an economist's viewpoint, discrimination occurs if there is a wage differential between two groups when there is no difference in the marginal revenue product of the two groups
a. True b. False Indicate whether the statement is true or false
In setting an obligatory control on a polluting industry, the government
a. places a tax on the pollution b. creates pollution permits which could be sold on the open market c. creates private property rights for air d. establishes a limit on the amount of pollution a producer is permitted to emit e. offers a subsidy to the polluting firm
An important advantage of a fixed-exchange-rate system is that it
A. promotes the growth of international trade and international financial transactions, by reducing the risk to market participants that exchange rates will change unexpectedly and substantially. B. prevents an exchange rate from becoming overvalued. C. protects the domestic economy from being hit by foreign shocks. D. prevents an exchange rate from becoming undervalued.