Belgium, according to economists, is in a recession when its
a. real GDP declines for at least three months
b. real GDP declines for at least nine months
c. nominal GDP declines for at least nine months
d. real GDP declines for at least six months
e. nominal GDP declines for at least six months
D
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The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. This information could be used to determine
A) the slope of Bobby's demand curve for juice. B) the amount by which Bobby's demand curve for juice shifts when his income rises. C) the amount by which Bobby's demand curve for juice shifts when the price of snacks rises. D) All of the above.
The relative concept of poverty is based on income relative to the
A. poverty line. B. average income. C. lowest 10 percent of incomes. D. highest 10 percent of incomes.
Each citizen in a small town suffers 5 units of irritation for each bushel of leaves burned in the town. The charge for hauling a bushel of leaves to the land fill is a fee equal to 20 units of irritation. There are 25 people in the town, each of whom minimizes personal irritation and has 10 bushels of leaves. Propose two solutions for the town that will lead to efficiency.
What will be an ideal response?
Which of the following types of representation is relatively understudied?
A. formalistic B. descriptive C. substantive D. symbolic