Which of the following nations experienced average rates of economic growth of a bit under 2% over the last 100 years or so?
a. Mexico
b. Brazil
c. the United States
d. All of the above are correct.
c
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Four stores have a problem with theft and security is a public good. Let S stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 200 - 2S. Patrols cost $20 per hour. Which of the following gives the marginal social benefit function?
A. MSB = 50 - 0.5S B. MSB = 800 - 8S C. MSB = 800 - 2S D. MSB = 196 - 2S
Under imperfect competition, a firm's:
a. demand curve lies below its marginal revenue curve. b. demand curve lies above its marginal revenue curve. c. demand curve coincides with its marginal revenue curve. d. demand curve coincides with its marginal cost curve. e. demand curve coincides with its average cost curve.
Consider the following:Farmer Jones bought seed and fertilizer for $100.He grew wheat that he sold to the Harvest Bread Company for $200.Harvest Bread produced and sold bread to the ABC Grocery Store for $250.Consumers bought the bread from the grocery for $400.How much was added to the GDP?
A. $950 B. $550 C. $400 D. $700
Why might a government intervene in the foreign exchange markets to try to increase or decrease the value of its currency?
What will be an ideal response?