Which of the following is true of the inflation rates experienced by different countries around the world in the 1990s?
a. China experienced deflation during this period
b. Russia experienced hyperinflation during this period
c. Japan experienced an inflation rate of 24 percent during this period
d. The United Kingdom experienced deflation during this period
b
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Explain the underlying assumptions of the price leadership model. What conclusions can be made about the price charged and the output produced in an industry that has a dominant price leader?
What will be an ideal response?
Less-developed countries that nonetheless have access to the latest technologies must be suffering from a relative shortage of ________ according to the Solow growth model, implying a very ________ rate of return available on additions to capital in
those countries. A) capital, low B) capital, high C) labor, low D) labor, high
The short run for the industry is defined as a period
a. too brief for new firms to enter the industry. b. too brief for old firms to leave the industry. c. in which the number of firms in the industry is fixed. d. All of the above are correct.
Which of the following is not an obstacle to development?
A. Overpopulation B. Excessive investment C. Political instability D. Corruption