Which of the following countries had the highest average growth rate for per capita GDP from 2000 to 2009?
A. Burundi.
B. Haiti.
C. China.
D. Canada.
Answer: C
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The Latin phrase ceteris paribus means that when a relationship between two variables is being studied
A) neither of those two variables is allowed to change. B) both are treated as unpredictable. C) we recognize that some factors are unknown. D) all other variables are held fixed.
With respect to the financial crisis of 2007-2009, some economists argue that financial service firms should have done a better job of assessing the risk involved in investing in mortgage-backed securities
Better governance in this context refers to which of the following? A) improving the assessment of investments. B) improving the monitoring of investments. C) improvements in aligning the actions of top managers with the preferences of shareholders D) all of the above
As one moves down a straight-line, down-sloping demand curve, price elasticity will:
a. change from elastic, to unit elastic, then to inelastic. b. remain the same between any two points. c. change from inelastic, to elastic, then to unit elastic. d. change from unit elastic, to elastic, then to inelastic. e. change from elastic, to inelastic, then to unit elastic.
If the marginal cost of producing vanity license plates is virtually zero (by prison inmates with little else to do), then states would maximize their profits on plate sales at the point on a linear demand curve where
a. demand is inelastic. b. demand is elastic. c. demand is unit elastic. d. the demand curve crosses the horizontal axis.