Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. Guatemala should specialize in and export ________, and Mexico should specialize in and export ________.
A. bananas; oranges
B. oranges; bananas
C. bananas; bananas
D. oranges; oranges
Answer: A
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If the growth rate of population is greater than a nation's growth rate of real GDP, then its real GDP per person
A) falls. B) rises. C) does not change. D) might rise, fall, or not change. E) cannot be measured.
You are studying with a friend and your friend says "A budget line shows the various combinations of two goods that can be purchased with the buyer's income at current prices." Is your friend's assessment correct or not?
What will be an ideal response?
The quantity theory of money
a. is a fairly recent addition to economic theory. b. can explain both moderate inflation and hyperinflation. c. argues that inflation is caused by too little money in the economy. d. All of the above are correct.
If the price of a normal good is measured along the vertical axis and its quantity along the horizontal axis, an increase in the price of the good will lead to
A. an upward movement along the demand curve. B. a rightward shift of the demand curve. C. a downward movement along the demand curve. D. a leftward shift of the demand curve.