Roughly what was the change in Venezuela's per capita GDP between 1960 and 2011?
A) 4%
B) 14%
C) 44%
D) 88%
A
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Figure 5-6
In Figure 5-6, a shift in the budget line from AC to AB indicates
A. the price of wine coolers has risen. B. income has increased. C. the price of beer has fallen. D. the price of wine coolers has fallen. E. All of the responses are correct.
The bargaining power of buyers increases if
A) the input in question is not a critical component of production. B) there are wide variations in the quality of inputs from supplier to supplier. C) there are many large buyers. D) the input in question has few substitutes.
If zinc suppliers are successful in forming an international zinc cartel, they will experience
a. lower output and higher prices, which discourage the entry of new firms into the industry b. lower output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry c. higher output and higher prices, which discourage the entry of new firms into the industry d. higher output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry e. none of the above
An increase in the MPC
a. increases the multiplier, so that changes in government expenditures have a larger effect on aggregate demand. b. increases the multiplier, so that changes in government expenditures have a smaller effect on aggregate demand. c. decreases the multiplier, so that changes in government expenditures have a larger effect on aggregate demand. d. decreases the multiplier, so that changes in government expenditures have a smaller effect on aggregate demand.