What is the biggest obstacle to successful economic growth in very low income countries?
a. lack of education
b. poor health and limited health care facilities
c. high political instability
d. lack of technology
c. high political instability
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The market outcome in a duopoly with homogeneous products is similar to that in ________
A) a perfectly competitive market B) a monopolistically competitive market C) a monopoly D) an oligopoly with differentiated products
Suppose early one Friday morning the economics club buys 200 donuts at 25 cents each, and plans to sell all of them later in day on campus for 50 cents each
Only 60 donuts are sold at 50 cents, however, and by early afternoon the club is seen trying to unload the remaining donuts for 10 cents each. What is the correct price of one of donut? A) 10 cents B) 25 cents C) 50 cents D) Stated this way, the question is meaningless.
The minimum wage is an example of
A) a subsidy for low-skilled workers. B) a price floor. C) a black market. D) a price ceiling.
The simple deposit expansion multiplier is really too simple for understanding the link between changes in a central bank's balance sheet and the quantity of money in the economy because it:
A. assumes banks hold excess reserves. B. ignores changes in vault cash. C. ignores how central banks could change their balance sheet. D. ignores the fact people might change their currency holdings.