Over the twentieth century, growth in per-capita GNP was highest
A) immediately prior to the Great Depression.
B) during World War II.
C) during the 1960s.
D) during the 1980s.
B
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Which of the following will cause the demand curve for a normal good to shift to the right?
a. a decrease in income b. an increase in the price of a complementary good c. a decrease in the price of the good d. an increase in the price of a substitute good e. an expectation of a future price decline
"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. positive; structural B. normative; monetary C. normative; structural D. positive; fiscal
When quantity supplied is greater than quantity demanded, prices tend to:
A. fall. B. stay the same. C. remain constant until the next season. D. rise.
The Cournot model assumes that the firms take their competitors output as fixed.
Answer the following statement true (T) or false (F)