Which of the following has been suggested as reasons for Mexico's slow economic growth?
A) Mexico's long-ruling PRI political party
B) Mexico's Spanish colonial background
C) Mexico's legal restrictions on the financial sector
D) all of the above
D
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Equilibrium in a market is
a. a situation in which there are no inherent forces that produce change. b. the natural state of affairs in the market. c. the actual price and quantity that will exist in a market. d. the best price and quantity that can exist in a market. e. All of the above are correct.
Which of the following factors weakens the case for private-sector provision of goods and services relative to public-sector provision?
a. constitutional rules b. the shortsightedness effect c. the special-interest effect d. public goods
If the interest rate rises and the supply of dollars in the market for foreign currency exchange shifts left, then the price must have
a) dropped by less than 10 percent. b) remained constant. c) risen. d) dropped by more than 90 percent.
In the text, economics is defined as the science of
a. money and business. b. choices. c. scarcity. d. price. e. individuals' actions.