Economic growth, as measured by increases in real GDP per-capita, exceeded 3% during the
A. 1980s.
B. 1960s.
C. 1990s.
D. 2000s and 2010s.
Answer: B
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All of the following conditions, except one, will necessarily be satisfied when a perfectly competitive firm is in short-run equilibrium. Which condition is the exception?
a. marginal revenue equals average total cost b. marginal cost crosses marginal revenue from below c. marginal revenue equals price d. price equals marginal revenue e. profit is maximized or loss is minimized
An unspoken agreement between workers and firms that the firm will not cut wages is known as
A. employment-at-will. B. an implicit or social contract. C. a relative-wage contract. D. an explicit contract.
What "balances" in the Balance of Payments accounting system are:
A. the physical and monetary direct transfers among individuals. B. the current account and the capital account. C. aggregate consumption and government spending. D. physical investment and ephemeral investment.
What is bank insolvancy?