Democracy tends to best promote freedom when there is
What will be an ideal response?
constitutional protection of private property rights
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What are the two channels through which the world economy can affect U.S. aggregate demand? State what changes in the world economy can increase U.S. aggregate demand
What will be an ideal response?
What is the "doom loop" responsible for the rapid development and severity of the 2009 euro crisis?
What will be an ideal response?
After its early success in the 1970s, OPEC experienced a drop in world oil prices and a corresponding drop in oil revenues for its members, due to
A. the fall of the elasticity of demand for oil. B. the growth in the number of oil buyers. C. OPEC members failing to produce the output that was agreed upon. D. a sharp rise in the demand for oil.
Alan Jones owns a company that sells life insurance. When he employs 10 salespersons his firm sells $200,000 worth of contracts per week, and when he employs 11 salespersons, total revenue is $210,000 . The marginal revenue product of the 11th salesperson is:
a. $20,000. b. $410,000. c. $210,000. d. $10,000.