Suppose that a country increased its saving rate. In the long run it would have
a. higher productivity, and another unit of capital would increase output by more than before.
b. higher productivity, but another unit of capital would increase output by less than before.
c. lower productivity, and another unit of capital would increase output by more than before.
d. lower productivity, but another unit of capital would increase output by less than before.
b
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In a _____, the state owns all means of production
A. mixed economy B. planned economy C. market economy D. totalitarian state
If a natural monopoly regulatory commission sets a price where marginal cost is equal to demand
A) the firm would earn monopoly profits. B) the firm would incur a loss. C) economic efficiency would not be achieved. D) the firm would break even.
Assuming the United States is the "domestic" country, if the real exchange rate between the United States and Russia decreases from 28 to 23
A) the prices of U.S. goods and services have increased by 25.5% relative to Russia. B) the prices of U.S. goods and services have decreased by 5% relative to Russia. C) the prices of U.S. goods and services have decreased by 18% relative to Russia. D) the prices of U.S. goods and services have increased by 22% relative to Russia.
Historically, price discrimination was aggressive behavior exhibited by whom? The
(a) monopolist (b) mom and pop business person (c) manager of a large group of industrial workers (d) corporation