Which of the following is not an obstacle to development?
A. Overpopulation
B. Excessive investment
C. Political instability
D. Corruption
Answer: B
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Consider three pricing strategies that the firm can pursue:
a. optimal two-part tariff pricing b. perfect price discrimination c. single-price monopoly pricing. Of these three strategies, which is least likely to benefit society as a whole? A) single-price monopoly pricing because there are mutually beneficial trades (between consumers and seller) that are not exploited B) Both perfect price discrimination and two-part tariff pricing do not benefit society because the entire consumer surplus is extracted by the producer. C) perfect price discrimination because those willing to pay higher prices are forced to subsidize those who are not D) a two-part tariff pricing because consumers have to pay a fixed fee in addition to a per-unit price
Normative economics deals with
a. how the economy actually works b. how a change in government budgets affects the price level c. how prices are determined in specific markets d. value judgments e. the historical growth of an economy
In periods of rising prices, percentage increases in nominal GDP will
A. Exceed percentage increases in real GDP. B. Not change in relationship to real GDP. C. Be less than percentage increases in real GDP. D. Equal percentage increases in real GDP.
Use the following table to answer the question below. GDP figures are in billions of dollars.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What is the GDP price index in year 1?
A. 111.5 B. 109.6 C. 108.3 D. 105.2