Trade policies in which industries have been the most contentious in the Doha Round?
What will be an ideal response?
Agriculture and services
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Everything else held constant, if disposable income increases by 200 and consumption expenditure increases by 150, the mpc is
A) 0. B) 0.15. C) 0.5. D) 0.75.
Economic analysis assumes that
A) individuals act only out of selfish motives. B) people are basically altruistic, and their actions are, therefore, impossible to predict. C) changes in the personal benefits and costs associated with a choice will exert a predictable influence on human behavior. D) although individuals are at times selfish and at times altruistic, only their selfish actions may be predicted.
The largest component of GDP is:
A. personal consumption expenditures. B. government spending. C. durable goods. D. net exports.
The monopolistic competitive firm in short-run equilibrium may experience economic profits that are
A) always zero. B) greater than, equal to, or less than zero. C) always positive. D) always negative.