According to the World View excerpt that compares GDP figures for several nations, Russia's real GDP is approximately
A. More than that of Mexico.
B. More than that of China.
C. More than that of Germany.
D. None of the choices are correct.
Answer: A
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Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 units. Use the midpoint formula to calculate the price elasticity of supply
A) 1.22 B) 1.0 C) 0.82 D) 0.07
Under a flexible exchange rate, an increase in the domestic money supply leads to
A) a devaluation of the domestic currency. B) a revaluation of the domestic currency. C) a depreciation of the domestic currency. D) an appreciation of the domestic currency.
The difference between microeconomics and macroeconomics is that
a. microeconomics deals with only small numbers while macroeconomics is always dealing with numbers in the billions and trillions b. microeconomics deals with the economy as a whole while macroeconomics deals with individual firms c. microeconomics is concerned with the behavior of individual decision-makers while macroeconomics is concerned with behavior of entire economies d. microeconomics is only useful for small countries while macroeconomics is useful for large countries e. microeconomics is only useful for large economies like the United States while macroeconomics is only useful for small economies
Why are politicians and economists concerned about the economic growth rate in the? U.S.?
What will be an ideal response?