If living standards in a country, as measured by output per person, increase, then total output must have:
A. increased more rapidly than population increased.
B. decreased more rapidly than population decreased.
C. increased at the same rate that population increased.
D. increased more slowly than population increased.
Answer: A
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Predatory pricing occurs when a firm sells
A) above cost to any customers who have no good alternative. B) above cost to low-income customers who have no good alternative. C) at whatever prices the market will bear. D) below cost in order to eliminate competitors. E) only to customers who agree to rebate a portion of the price.
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real GDP and current international transactions in the context of the Three-Sector-Model?
a. Real GDP rises, and current international transactions become more negative (or less positive). b. Real GDP and current international transactions remain the same. c. There is not enough information to determine what happens to these two macroeconomic variables. d. Real GDP falls, and current international transactions become more negative (or less positive). e. Real GDP rises, and current international transactions remain the same.
In the Temporary Assistance for Needy Families program, most families
a. must have both parents in the home to qualify. b. are female head-of-household families in which the father is absent. c. have adult children with disabilities living at home. d. are ineligible to receive assistance from other support programs.
Last year, the real per capita GDP of Country A was $32,000 and that of Country B was $25,000. Based on this information, what can we conclude about the standard of living for a typical inhabitant in each of these countries?
a. The standards of living for the typical inhabitants of these two countries cannot be determined without more data. b. The standards of living for the typical inhabitants of these two countries are roughly equivalent. c. A typical inhabitant of Country B has a higher standard of living than a typical inhabitant of Country A. d. A typical inhabitant of Country A has a higher standard of living than a typical inhabitant of Country B.