Among countries with per capita Gross national income in 2006 of less than $2,000,
A. high-income households tend to account for a larger share of aggregate consumption.
B. agriculture tends to produce a smaller share of GDP.
C. the consumer price inflation rate tends to be lower.
D. all of the options are correct.
Answer: A
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Monopolistic competition differs from oligopoly in that in monopolistic competition firms act independently while in oligopoly firms act interdependently
Indicate whether the statement is true or false
Overseeing who operates banks and how they are operated is called
A) prudential supervision. B) hazard insurance. C) regulatory interference. D) loan loss reserves.
Assuming initially that the required reserve ratio = 15%, the currency-deposit ratio = 40%, and the excess reserve ratio = 5%, a decrease in the excess reserve ratio to 0% causes the M1 money multiplier to ________, everything else held constant
A) increase from 2.33 to 2.55 B) decrease from 2.55 to 2.33 C) increase from 1.67 to 1.82 D) decrease from 1.82 to 1.67
For a firm in a perfectly competitive product market, the marginal resource cost curve is horizontal if the resource market is also competitive
a. True b. False