According to the Economic Times (09/2012), Standard & Poor's forecast for India's GDP growth rate was cut by 1 percentage point to 5.5 percent as the entire Asia Pacific region feels the pressure of ongoing economic uncertainty
India has averaged 7 percent growth in GDP since 1997. Which of the following is TRUE? A) India's PPF has been shifting rightward since 1997.
B) India's PPF has been shifting leftward since 1997.
C) India has been moving from a point within its PPF to points beyond its PPF.
D) India's PPF has not shifted since 1997.
A
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In an indifference curve/budget line diagram, a consumer's equilibrium consumption combination will occur
A) inside the budget line. B) outside the budget line. C) on the budget line. D) at the origin.
When the government enacts policies to make the distribution of income more equitable, it distorts incentives, alters behavior, and makes the allocation of resources less efficient
a. True b. False Indicate whether the statement is true or false
Government spending increases by $80 billion and the equilibrium level of output increases by $320 billion. The government spending multiplier
A. is 4. B. is 5. C. is 6. D. cannot be determined from this information, because the MPC is not given.
In a market, there are many firms selling differentiated products. This market is:
A. a monopoly. B. an oligopolistic market. C. a competitive market. D. a monopolistically competitive market.