Which of the following is a problem when comparing GDPs per capita between nations?
a. Fluctuations in exchange rates affect differences in GDP per capita.
b. GDP per capita fails to measure income distribution.
c. All of the answers are correct.
d. GDP per capita is subject to greater measurement errors for LDCs compared to IACs.
c
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The pricing rule for a monopolist is:
A) P = MR > MC. B) P > MR > MC. C) P = MR = MC. D) P > MR = MC.
Which of the following statements is CORRECT?
I. The exchange rate is a price. II. The exchange rate is different from other prices because it is NOT determined by supply and demand. A) only I B) only II C) I and II D) neither I nor II
Economic models
a. may be insufficient to make numerical predictions. b. may have untestable conclusions. c. both of these are true. d. neither of these are true.
Which statement is true?
A. Industry X is more concentrated than Industry Y.
B. Industry X is more concentrated than Industry Z.
C. Industry Z is more concentrated than Industry X.
D. Industries X, Y, and Z have the same concentration ratio.