On average, countries that have a larger degree of economic freedom tend to have
a. higher per capita income levels, but slower rates of economic growth, than countries with less economic freedom.
b. lower per capita income levels, but more rapid rates of economic growth, than countries with less economic freedom.
c. both higher per capita income levels and more rapid growth rates than countries with less economic freedom.
d. both lower income levels and slower growth rates than countries with less economic freedom.
C
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A firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55 . At what price does the firm consider shutting-down in the short run?
a. $45 b. $40 c. $95 d. $55
If variable X rises as a result of variable Y falling, then X and Y have an inverse relationship
Indicate whether the statement is true or false
If the dollar appreciates while foreign income rises:
A. the U.S. AD curve would likely remain unchanged. B. the U.S. AD curve would likely shift to the left. C. what happens to the U.S. AD curve is unclear. D. the U.S. AD curve would likely shift to the right.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.