In 2010, of the following which nations had the highest level of real GDP per person?
A) Japan
B) Europe Big 4
C) Canada
D) China
C
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A perfectly competitive firm’s short-run supply is infinite at the market price.
Answer the following statement true (T) or false (F)
The equilibrium price is best defined as the price at which: a. demand is smaller than supply
b. suppliers want to supply more goods. c. demanders want to buy more goods. d. quantity demanded is equal to quantity supplied. e. the quantity demanded increases.
According to the rule of 70,
a. if a country is growing at 14% per year, its output will double in approximately 5 years. b. if a country is growing at 10% per year, its output will double in approximately 7 years. c. if a country is growing at 2% per year, its output will double in approximately 35 years. d. all of the above are true.
The events of September 11, 2001 had a major direct impact on the economy's GDP
a. True b. False