During 1980-2005, the developing countries that moved most rapidly toward economic freedom
a. achieved higher rates of economic growth, but the reductions in their poverty rates were smaller than those for countries that were less free.
b. grew less rapidly, but the reductions in the poverty rates were greater than those achieved in countries that were less free.
c. experienced both slower rates of economic growth and smaller reductions in poverty rates than countries that were less free.
d. experienced both more rapid rates of economic growth and larger reductions in poverty rates than countries that were less free.
D
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Demand-side inflation occurs when
A) long-run aggregate demand rises faster than short-run aggregate supply. B) aggregate demand falls more rapidly than aggregate supply. C) increases in aggregate supply outstrip increases in aggregate demand. D) increases in aggregate demand are not matched by increases in aggregate supply.
If there is a monopsony operating in the labor market illustrated in the figure above, the equilibrium wage and quantity of labor hired is
A) $15 and 50 hours. B) $10 and 100 hours. C) $10 and 50 hours. D) $5 and 50 hours.
Unlimited liability applies
a. to partnerships and sole proprietorships b. only to partnerships c. only to sole proprietorships d. only to corporations e. to corporations and partnerships
A tax levied on the purchase of a specific good or service is
A. a purchase tax. B. a value tax. C. an excise tax. D. a consumption tax.