Because the United States is a developed economy, every other country is catching up to the level of U.S. real GDP per person
Indicate whether the statement is true or false
FALSE
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According to Say's Law,
a. demand creates its own supply b. interest rates never change c. there is never too much or too little spending d. prices never change e. the market for loanable funds is always in equilibrium
What is a "currency drain?" How and why does it affect the money multiplier?
What will be an ideal response?
Which of the following statements about a monopolistically competitive firm, in the short run, is true?
a. Profits will be maximized at the point at which price equals marginal cost and hence there is no deadweight loss. b. The firms earn zero economic profit in the short run. c. The firms achieve allocative and productive efficiency in the short run. d. Advertising may enable a firm to charge a higher price than that charged by rival firms. e. It faces a perfectly elastic demand curve.
The total fertility rate necessary to keep the population constant is approximately equal to:
A. 1.0. B. 1.5. C. 2.1. D. 3.0.