Which is true?
a. Brazil has seen an average decline in the number of children that the average Brazilian woman has
b. on average, tall people are paid higher salaries
c. As the Venezuelan govt seizes more foreign-owned businesses, her economic growth will decline
d. all
Ans: d. all
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According to the kinked demand curve model, regardless of whether a firm increases or decreases price, its total revenues will decrease as a result of the price change
Indicate whether the statement is true or false
While pollution regulations yield the benefit of a cleaner environment and the improved health that comes with it, the regulations come at the cost of reducing the incomes of the regulated firms' owners, workers, and customers. This statement illustrates the principle that
a. trade can make everyone better off. b. rational people think at the margin. c. people face tradeoffs. d. people respond to incentives.
When the Fed buys government securities, it:
a. lowers the cost of borrowing from the Fed, encouraging banks to make loans to the general public. b. raises the cost of borrowing from the Fed, discouraging banks from making loans to the general public. c. increases the amount of excess reserves that banks hold, encouraging them to make loans to the general public. d. increases the amount of excess reserves that banks hold, discouraging them from making loans to the general public. e. decreases the amount of excess reserves that banks hold, discouraging them from making loans to the general public.
Suppose that the CPI doubles from 1995 to 2004. That means that prices have risen by
A. 50%. B. 100%. C. 150%. D. 200%.