Last year the imaginary nation of Freedonia had a population of 2,800 and real GDP of 16,800,000 . This year it had a population of 2,700 and real GDP of 15,390,000 . About what was the growth rate of real GDP per person between last year and this year?
a. -5.3 percent
b. -5 percent
c. 5 percent
d. 5.3 percent
b
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Predatory pricing is a well-defined antitrust offense
Indicate whether the statement is true or false
Government regulation of monopoly
a. separates monopoly pricing from monopolies b. is undesirable when there is a natural monopoly c. cannot be done when there are monopoly profits d. is unnecessary when economies of scale exist e. will result in economic profits to the regulated firm
The problem of currency mismatch of net external wealth can be mitigated by:
A) ensuring the creditor countries always denominate loans in U.S. dollars. B) promoting internal financial markets where foreign securities can be traded. C) restricting borrowing yet encouraging lending. D) piling up large stocks of foreign currency assets in central bank reserves and sovereign wealth funds.
Seasonal unemployment is
A. a result of the seasonal pattern of work in specific industries. B. a result of business recessions that occur when aggregate demand is insufficient to create full employment. C. due to the fact that workers must search for appropriate job offers. D. a result of a poor match of worker's abilities and skills with current requirements of employers.