If population growth is less than output growth for a country,
A. The per capita living standard will increase.
B. GDP must have fallen at a fairly rapid rate.
C. Average living standards will decrease.
D. Real GDP has decreased.
Answer: A
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Refer to Figure 13-4. What is the area that represents the total fixed cost of production?
A) P1bdP3 B) 0P1aQa C) P0adP3 D) That information cannot be determined from the graph.
The process by which risks are shared among many different assets or people is called:
A. diversification. B. the credit risk. C. the liquidity process. D. the risk spread.
________: the rate of exchange of pairs of consumption goods or services to leave utility or satisfaction unchanged
Fill in the blank(s) with correct word
Refer to the information provided in Scenario 22.5 below to answer the question(s) that follow.SCENARIO 22.5: The tiny nation of Bugaboo consists of two virtually identical islands, Achoo and Zoink, separated by the Strait of Dingo. The islands are similar in geography and population. The only telephone service on the islands is cellular, and the only cellular provider on the islands is the government-owned Bugaboo Communications Company, which charges a standardized rate of 20 Bugabucks per minute. Both islands add on an additional $5 Bugabucks-per-minute usage tax. As a way to increase revenue, the island governor of Zoink decided to increase the usage tax to $10 per minute, effective January 1, 2017. The average monthly cellphone usage per month is listed in the table below.?Average
Monthly Telephone Use per Resident (minutes)Island20162017Achoo4,5005,150Zoink4,8005,225Related to the Economics in Practice on p. 727: Refer to Scenario 22.5. Using the difference-in-differences method, what is the estimated effect of the increase in the usage tax on the average number of minutes used monthly per resident in Zoink? A. -225 B. -425 C. -650 D. -1,075