Very recently, the debt-to-GDP ratio has been:
A. higher than usual.
B. lower than usual.
C. stabilized.
D. volatile.
Answer: C
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In monopolistic competition there is/are
A) only one seller who faces a downward-sloping demand curve. B) many sellers who each face a perfectly elastic demand curve. C) a few sellers who each face a downward-sloping demand curve. D) many sellers who each face a downward-sloping demand curve.
Suppose the price of the good is $175. If the firm produces and sells 515 units of output, its total revenue is:
a. $75,250. b. $84,500. c. $90,125. d. $100,525.
If nation A can produce a product at a lower opportunity cost per unit than nation B, nation A
A. has a specialization advantage. B. has an absolute advantage. C. has a comparative advantage. D. has a production advantage.
According to the income-expenditure diagram, total production must always equal total
A. inventories. B. aggregate demand. C. wages, profit, rents. D. income.