If black markets help people meet their needs, they will tend to ________ created by the restrictive government policies
A) increase the absolute advantage
B) reduce the deadweight losses
C) reduce the cooperative surpluses
D) increase the tax revenues
B
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Which of the following statements is true?
A) Exponential growth refers to growth by the same amount in every time period. B) To depict variables that have exponential growth, it is more convenient to use an axis with a proportional scale. C) Linear growth refers to growth by the same proportion in every time period. D) To depict variables that have exponential growth, it is more convenient to use an axis with a linear scale. Consider two countries: country A and country B. At the beginning of year 2010, the GDP per capita in both countries is $2,400. The annual growth rate of output in country A is 3%, while the annual growth rate of output in country B is 5%.
Gross domestic product is the total ________ produced within a country in a given time period
A) market value of all final and intermediate goods and services B) market value of all goods and services C) amount of final and intermediate goods and services D) market value of all final goods and services
Virtual Currency Unit 3 (VCU3) is poses a __________ risk to nations in which is it used because ___________________________
a. Low; it conversion back into real world currencies causes no change in M2, the monetary base, or net demand for real goods and services. b. Low; it cannot be converted back into real world (legal tender) currencies. c. High; it can be converted and spent on real-world goods and services. d. High; online companies can create as much as they want, which could overinflate a nation's money supply and excessively increase demand.
The president of Tucker Motors says, "Lowering the price won't sell a single additional Tucker car." The president believes that the price elasticity of demand is:
a. perfectly elastic. b. elastic. c. perfectly inelastic. d. unitary elastic.