Which of the following is a characteristic of an LDC?
a. All of the answers are correct.
b. Lack of entrepreneurs
c. Capital flight
d. Vicious circle of poverty
a
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For each of the following values of nominal GDP and real GDP, calculate the GDP price deflator
a) Nominal GDP = $600; real GDP = $800. b) Nominal GDP = $900; real GDP = $900. c) Nominal GDP = $1,200; real GDP = $1,000
How does age affect the amount of income people earn?
Any combination of goods lying outside of the budget line:
A. implies that the consumer is not spending all his income. B. yields less utility than any point on the budget line. C. yields less utility than any point inside the budget line. D. is unattainable, given the consumer's income.
The CEO of Always Round Tires has decided to open a battery division. He thinks that batteries would sell well with tires at their outlets and that Always Round's quality reputation will be transferred to the batteries. Should he set up the new division as a Revenue Center, as a Profit Center, or as an Investment Center? Why?
What will be an ideal response?