Between which pair of countries or continents listed below has real GDP per person converged the most since 1960?
A) Canada and Japan
B) United States and Africa
C) United States and South America
D) Canada and South America
A
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With money supply shocks in the intertemporal model with money, the price level is
A) procyclical. B) acyclical. C) countercyclical. D) somewhat cyclical.
Monopolistically competitive firms can achieve product differentiation through:
A. creating a truly different product. B. creating the perception of differences in their product. C. creating a product that cannot be easily substituted with a rival's product. D. All of these statements are true.
The presence of large sunk costs often serves as a naturally imposed barrier to entry
a. True b. False Indicate whether the statement is true or false
Relationship between the quantity of inputs used in production and the quantity produced from those inputs is called.
A. Productivity Equation B. Production function C. an input - output function. D. A GDP deflator E. None