If real GDP grows at a faster rate than does population, then the standard of living, as measured by real GDP per person,
A) worsens.
B) remains the same.
C) cannot be measured.
D) improves.
E) either improves, worsens, or stays the same, depending on the size of the population and the actual level of real GDP.
D
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China is trying to move its banking system from being strictly ________ owned by having them issue shares overseas
A) state B) domestic investor C) depositor D) domestic corporate
Individual price discrimination is used when
A) firms are dealing with individual consumers, such as in a line at the coffee shop. B) firms cannot easily determine consumers' reservation prices. C) firms are selling to non-local buyers. D) salespeople are in a difficult industry, such as auto sales.
A firm under any market structure maximizes profits at a point where:
a. marginal revenue product is greater than marginal factor cost. b. marginal revenue product is equal to marginal factor cost. c. marginal revenue product is equal to zero. d. marginal factor cost is equal to zero. e. marginal revenue product is less than marginal factor cost.
The type of good with the largest import in the U.S. is:
A. capital goods. B. consumer goods. C. industrial goods. D. automobiles.