The rate of inflation is measured as the percentage change between _________ levels or index numbers over time.
a. price
b. cost
c. production
d. import
a. price
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In an economy, unemployment exists only at points that are on the interior of the production possibilities frontier.
Answer the following statement true (T) or false (F)
As more bananas are consumed, marginal utility decreases at
a. the same rate for all people, approaching but never reaching zero b. the same rate for all people, and eventually becomes negative c. different rates for different people, and for everyone, it approaches but never reaches zero d. different rates for different people, and eventually, for everyone, it becomes negative e. different rates for different people, and eventually reaches zero where it remains (it cannot be negative)
List the four broad categories of factors of production
What will be an ideal response?
Statistics show that the less developed a country is
A. the larger is the share of industrial output in its total output. B. the larger is the GDP. C. the larger is the per capita income. D. the larger is the share of agricultural output in its total output.