Describe how Brazil and Russia are similar and how they are different
What will be an ideal response?
Both are involved in exporting commodities and benefit from China's rising demand increasing prices, and in Brazil's case, demand for foodstuffs. Both came out of economic problems later than China and India. Brazil was always a capitalist economy where Russia was part of the Soviet system. Russia has a more significant problems with an aging population.
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Consumption is likely to fall if ________
A) the number of mortgage defaults in an economy rises B) the revenue earned by firms increase C) the demand for labor rises D) the supply of labor decreases
What is comparative advantage? Give an example
What will be an ideal response?
Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. The central bank increases money growth as a result of an unannounced policy change
Under the assumption of adaptive expectations the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
Public goods face the
A) principle of rival consumption. B) free-rider problem. C) law of overproduction. D) exclusion principle.