All other things being equal, which country is likely to have the slowest economic growth?
a. Country A’s government does little to enforce the rule of law.
b. Country B has a few natural resources within its borders.
c. Country C places great emphasis on the importance of education for all its citizens.
d. Country D’s government invests in its infrastructure and health system.
a. Country A’s government does little to enforce the rule of law.
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Total cost is equal to the
A) sum of the total fixed cost and the total variable cost. B) sum of the average fixed cost and the average variable cost. C) difference between the average variable cost and the average fixed cost. D) product of the marginal cost multiplied by the average total cost.
Which of the following is considered a microeconomic issue?
A. The unemployment rate in the US from 1980-2014. B. Apple releases a new version of the iPhone. C. France’s growth rate in the last year. D. All of these are examples of microeconomic issues.
The formula for AVC is
A) q/TVC. B) TVC/q. C) ?TVC/?q. D) ?q/?TVC.
In behavioral economics, the term salience refers to
A) relevance to the problem being investigated. B) people only consider information when it is conveyed in a subtle manner. C) how an experiment is designed. D) people consider information when it is presented in an "eye grabbing" manner.