The average per capita income in 2010 for low-income developing nations was:
A. $580
B. $2,100
C. $1,240
D. $4,600
A. $580
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A firm that is a price maker can
a. limit output and raise prices. b. ignore the law of demand. c. ignore the elasticity of the demand for the product. d. both limit output and raise prices and ignore the elasticity of the demand for the product.
Which of the following is most likely to be a partnership?
a. Uncle Mort's Red Wrigglers b. the accounting firm of Hope and Williams c. General Motors d. the Boston Symphony Orchestra e. the U.S. Post Office
GDP per capita is a relatively good measurement of:
a. the distribution of income. b. purchasing power. c. household production. d. the standard of living.
If unemployment is the major problem in the economy, which of the following would be an appropriate monetary policy response?
a. decrease the required reserve ratio b. decrease the interest rate the Fed pays on bank reserves c. buy government bonds d. all of the above