The government of China has explicitly stated that the goal of its strict population control measures is to raise income per capita. What are the mechanisms at work in such a claimed relationship? Are there any counterarguments?
What will be an ideal response?
See the case study.
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The price of a PC falls or the price of an MP3 download rises? (Draw the diagrams!)
What will be an ideal response?
The number of firms in a perfectly competitive market:
A. is fixed in the short run. B. is fixed in the long run. C. varies in the short run. D. is the same at all possible long-run equilibria.
The experience of the Marcos Presidency in the Philippines in 1986 showed:
A. the importance of keeping the central bank independent from political pressure. B. transparency is critical if people are going to trust a central bank. C. published central bank balance sheets do not always reflect reality. D. all of the answers given are correct.
Which of the following shifts long-run aggregate supply left?
a. a decrease in either natural resources or the human capital stock. b. a decrease in the human capital stock, but not natural resources. c. a decrease in natural resources, but not the human capital stock. d. neither a decrease in natural resources nor the human capital stock.