Usually the poorest fifth of the population in a developing country receives more than 20 percent of the country's income
a. True
b. False
B
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Macroeconomics is concerned with studying the
A) behavior of individual decision makers. B) performance of the economy as a whole. C) prices of specific companies' stocks. D) wants of individual consumers.
The law of demand says that in most cases, the lower the price, the lower the quantity demanded.
Answer the following statement true (T) or false (F)
The infant-industry argument for tariff protection is that tariffs should be imposed to protect from competition
A) industries that are essential if a country is to become an industrial nation. B) industries needed for national defense. C) industries that cannot compete with foreign competitors at this point in time, but will be able to once they gain some size and experience. D) industries that can compete with foreign competitors at this point in time and are deemed essential by the government.
The demand curve facing a monopolistic firm is
A. upward sloping. B. downward sloping. C. vertical. D. horizontal.