Refer to the scenario above. What will be the GDP per capita of country A at the beginning of year 2012?
A) $2,410.26 B) $2,800 C) $2,760.24 D) $2,546.16
D
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The above figure shows the demand and cost curves for a monopolistically competitive firm in the long run. The firm maximizes its profit by
A) producing 8 units and charging a price of $5. B) producing 8 units and charging a price of $15. C) producing 16 units and charging a price of $10. D) producing 20 units and charging a price of $25.
Which of the following statements is correct?
I. If other factors are held constant, the level of employment in the economy determines real Gross Domestic Product (GDP). II. According to classical economists, only voluntary unemployment exists in the long run. A) I only B) II only C) Both I and II D) Neither I nor II
The propensity ?0 + ?1+ … + ?k is sometimes called the:?
A. ?short-run elasticity, which measures the percentage increase in a dependent variable after k quarters given a permanent 1% increase in the k independent variables. B. ?long-run elasticity, which measures the percentage increase in a dependent variable after k quarters given a permanent 1% increase in the k independent variables. C. ?short-run elasticity, which measures the percentage decrease in a dependent variable after k quarters given a permanent 1% decrease in the k independent variables. D. ??long-run elasticity, which measures the percentage decrease in a dependent variable after k quarters given a permanent 1% decrease in the k independent variables.
Use the following diagram to answer the next question.
The phases of the business cycle from points A to D are, respectively
A. expansion, recession, trough, peak. B. trough, recovery, expansion, peak. C. peak, recession, expansion, trough. D. peak, recession, trough, expansion.