Which of the following statements is true?
A) Economic growth is the direct cause of declining poverty.
B) Growth in unemployment is the direct cause of declining poverty.
C) There are some countries where growth and poverty have both increased.
D) Economic growth is the direct cause of declining inequality.
C
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Which of the following does NOT decrease aggregate demand in the United States?
A) a decrease in GDP in Germany B) a decrease in government spending C) a decrease in the price of oil D) a decrease in the supply of money
If Marginal Cost (MC) is higher than Average Cost (AC), average cost is
a. falling b. rising c. constant d. none of the above
A deadweight loss arises in a perfectly competitive market as each firm is a price taker
a. True b. False Indicate whether the statement is true or false
Exports minus imports define a country's
A. Trade balance. B. Balance of payments. C. Capital account balance. D. Current account balance.