Between 2000 and 2015, which of the following experienced a negative inflation rate?
A. Medical care
B. Wireless phone service
C. Gasoline
D. College tuition
Answer: B
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Growth accounting is a method which measures the contributions to economic growth from what three factors?
What will be an ideal response?
According to Joseph Schumpeter, which of the factors of production is central to economic growth?
A) natural resources B) land C) labor D) the entrepreneur
Why is the Doha Round called the Doha Development Round?
What will be an ideal response?
In the DMP model
A) the market wage is equal to the marginal product of labor. B) the market wage is equal to the marginal rate of substitution of leisure for consumption. C) the wage is equal to the marginal rate of transformation. D) the wage is determined by bargaining between the firm and the worker.