Which of the following countries fell victim to contagion during the Asian financial crisis?
A. Indonesia, Malaysia, and the Philippines
B. Malaysia, South Korea, and Taiwan
C. Malaysia, the Philippines, and Taiwan
D. All of these countries were hurt during the crisis.
A. Indonesia, Malaysia, and the Philippines
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Paul Romer's theory of economic growth differs from traditional theories in that
A) Romer argues an investment-knowledge cycle can exist, but requires constant increases in investment rates, while traditional theories argue that investment rates can be constant. B) Romer argues that investment in human capital always occurs before investment in physical capital, while traditional theories emphasize the priority of physical capital. C) Romer argues an investment-knowledge cycle allows a one-time increase in investment to permanently increase a country's growth rate, while traditional theory argued such an investment would have only a short-term effect. D) Romer argues that investment in capital goods is not important in encouraging growth while investment in human capital is, whereas traditional theorists emphasize both human and physical capital.
In the long run, a firm in monopolistic competition produces where the slope of the average total cost curve is
A) negative. B) zero. C) positive. D) equal to the marginal cost.
Martha's Cleaning Services is a perfectly competitive firm that currently cleans 30 offices a week and charges $20 per office, which is the going market price. Martha's marginal cost is $15
What should Martha do to increase her economic profit? Clean more offices? Raise her price? Explain your answer.
Many people do NOT fully insure against risk because
A) they are risk averse. B) the insurance companies are all crooks. C) the insurance offered is less than fair. D) the insurance offered is more than fair.