Economic growth in Cuba has been slow. What can best explain the slow growth?
A) lack of incentive mechanisms and economic freedom
B) lack of economic resources
C) labor productivity is low.
D) too much competition within the economy
E) a non-democratic form of government
A
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Which branch of economics considers that economic agents do not always act rationally?
A) Microeconomics B) Macroeconomics C) Behavioral economics D) Econometrics
The information in the table above gives the 2012 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2013 prices. What is the value of the CPI for 2013?
A) 140 B) 133 C) 100 D) 75
A positive economic statement concerns
a. an opinion on an economic issue that should be taken b. an economic activity that has a positive effect on the economy c. a statement of fact d. a macroeconomic issue or position e. a microeconomic issue or position
In the equation of exchange, the money supply multiplied by velocity equals
A) GDP. B) the price level. C) the quantity of goods produced. D) the average number of times that a dollar is used to purchase a final good or service.