Evidence that convergence occurs within economies is drawn in part from the example of ________
A) Hiroshima and Nagasaki Japan
B) North and South Korea
C) West and East Germany during the Cold War
D) Hong Kong and Singapore
A
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The aggregate supply curve shows
A) the total of all planned production for an economy. B) that real GDP can only increase when the price level increases. C) what an economy can produce if resource prices are constant. D) the various quantities of goods consumers will purchase.
If accounting profits are positive then economic profit is positive
Indicate whether the statement is true or false
If the tax increases as the tax base increases, the tax is said to be
a. proportional. b. regressive. c. digressive. d. progressive.
Unlike firms in perfect competition, monopolists have control over
a. the costs of production b. what technology to use c. what price to charge d. how much to produce e. the choice of plant size