We can calculate how long a country will take to double its real GDP per capita using:
A. its average growth rate.
B. its GDP deflator.
C. the CPI indexation factor.
D. the GDP growth estimator.
A. its average growth rate.
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Lisa runs a local flower shop. If it rains on Valentine's Day and she opens the shop, she will lose $200. If it does not rain on Valentine's Day, she will earn $500 dollars as profits
What is Lisa's expected profit on Valentine's Day if she only knows that there is a 30% chance of rain that day? A) $350 B) $290 C) $200 D) $150
"If an individual is to maximize the utility received from consumption, he or she should spend all available income. . . ." This statement assumes:
a. that saving is impossible. b. that the individual is not satiated in any one good. c. that no goods are "inferior." d. that every good has a positive marginal utility.
Lower inflation rates are usually correlated with lower unemployment rates.
Answer the following statement true (T) or false (F)
E-commerce and an internet presence are important to many firms, requiring employees with specialized skills that are in short supply. The invisible hand solves the employment problem by:
A. discouraging firms from using of new technologies such as the internet. B. giving workers an incentive to acquire the necessary skills on their own in order to receive higher wages. C. providing free internet access. D. encouraging the government to set up training programs to provide workers with the necessary skills.