At one end of the competitive spectrum is cutthroat competition. At the other end is (the)
A. cartel.
B. open collusion.
C. covert collusion.
D. price leadership.
A. cartel.
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The following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600Between which years was the rate of growth in real GDP per capita the lowest?
A. 1860 to 1910 B. 1910 to 1960 C. 1810 to 1860 D. 1960 to 2010
The country of Old Jersey produces milk and butter, and it has published the following macroeconomic data, where quantities are in gallons and prices are dollars per gallon. Between Year 1 and Year 2, nominal GDP grew by
A) 60.0%. B) 65.5%. C) 83.3%. D) 190.0%.
As income rises ________
A) the number of transactions households and firms undertake should increase B) wealth also rises C) demand for real money balances should increase D) all of the above E) none of the above
In New York City, when he was the mayor Michael Bloomberg recommend that the city, with the help of private donors, make cash payments to poor and underprivileged parents who can certify that their children are attending school on a regular basis
The payments would start after third grade and go through high school, rising each year as dropout rates get higher and a child's forgone earning potential is higher. What economic concept does this policy represent? A) public goods B) incentives C) externalities D) technological progress E) the "invisible hand"