Every economy has a(n) _______ given by the fundamental factors of growth.
A. actual inflation rate
B. actual growth rate
C. potential growth rate
D. potential inflation rate
Ans: C. potential growth rate
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Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied
A) a surplus; is greater than B) a surplus; is less than C) a shortage; is greater than D) a shortage; is less than E) neither a surplus nor a shortage; equals
Which of the following statements is true?
A) Empirical arguments can be supported without the use of data. B) Using a large data set will strengthen the force of an empirical argument C) Using fewer observations will strengthen the force of an empirical argument. D) The number of observations used does not affect the strength of an empirical argument.
Explain how low levels of living can turn into a vicious cycle in developing countries
What will be an ideal response?
In the above figure, if this natural monopolist were unregulated, the profit maximizing firm would produce
A) at Q1 output rate. B) at Q2 output rate. C) at Q3 output rate. D) past the Q3 output rate.