Countries with more economic freedom tend to invest a ____ share of their GDP and the productivity of that investment is ____ than for countries that are less free. (Fill in the blanks.)
a. larger; higher
b. larger; lower
c. smaller; higher
d. smaller; lower
A
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Explain how the following factors will shift the demand curve for Gillette shaving cream
a. The price of a competitor's shaving cream increases. b. With an increase in unemployment, the average level of income in the economy falls. c. Shaving gels and foams, marketed as being better than shaving creams, are introduced in the market.
Which of the following services have experienced declines in relative prices due to productivity increases?
A. Medical services B. Restaurant meals C. Theatrical performances D. Internet access services
If a good is inferior and income increases, then
A. the supply curve will shift to the left. B. the demand curve will shift to the right. C. the demand curve will shift to the left. D. the supply curve will shift to the right.
Economic estimates of a "modest upside" to casino gambling suggest that the "local substitution" is
A. complete. B. slight. C. nearly, but not totally, complete. D. zero.