Which of the following countries has the highest export ratio?
A. The United Arab Emirates.
B. Japan.
C. China.
D. The United States.
Answer: A
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If Fred's marginal rate of substitution of salad for pizza equals five, then
A) he would give up five pizzas to get the next salad. B) he would give up five salads to get the next pizza. C) he will eat five times as much pizza as salad. D) he will eat five times as much salad as pizza.
Refer to Figure 8.2. At P = $80, how much is profit in the short run?
A) $88 B) $306 C) $351 D) $1000 E) $1024
Identify the main planks of the classical thought. (4 Marks)
a. Distinguish between voluntary and involuntary unemployment. (4 Marks) b. Explain the process through which classical unemployment can occur in an economy.
A leftward shift in the aggregate supply curve generates a ________ inflation and ________ output.
A. cost-push; higher B. cost-push; lower C. demand-pull; lower D. demand-pull; higher