if the per capita income of a country is growing at 3.5 percent per year, approximately how long will it take for that income to double?
What will be an ideal response?
20 years
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The branch of economics that examines the self-interested behavior of politicians, lobbyists, agencies, bureaucrats, and voters is called
A) microeconomics. B) macroeconomics. C) econometrics. D) public choice.
What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy a lemon?
A) The sellers of gems reap high profits. B) Higher gains from trade are realized. C) The entire market shuts down. D) The sellers of lemons earn high profits.
The segmented markets theory can explain
A) why yield curves usually tend to slope upward. B) why interest rates on bonds of different maturities tend to move together. C) why yield curves tend to slope upward when short-term interest rates are low and to be inverted when short-term interest rates are high. D) why yield curves have been used to forecast business cycles.
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A
B. B
C. C
D. D