The majority of the value of production in the world economy is produced in
A) all of the developing economies taken together.
B) all of Africa and the Middle East taken together.
C) China and other Asian developing economies.
D) all of the advanced economies taken together.
E) all of the emerging market economies taken together.
D
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Suppose that there are only two types of used cars, peaches and lemons. Peaches are worth $10,000, and lemons are worth $4,000. If the market is such that only lemons are sold, then used cars are
A) experience goods and the used car market has effective signals. B) experience goods and the used car market lacks effective signals. C) not experience goods and the used car market has effective signals. D) not experience goods and the used car market lacks effective signals.
Refer to Figure 1-3. Calculate the area of the trapezoid X
A) $270 B) $720 C) $810 D) $2,520
Unpredictable inflation can cause businesses to:
A. have a hard time planning future production. B. cease production until they know how to adjust for inflation. C. restrict output and stockpile inventory. D. increase production due to expecting future price level changes.
If the U.S. government changes its policy toward Cuba by allowing U.S. firms to export their goods to Cuba, the
a. Cuban aggregate expenditure curve will shift upward and the equilibrium level of national income in the U.S. will decrease b. Cuban aggregate expenditure curve will shift downward and the equilibrium level of national income in Cuba will decrease c. Cuban aggregate expenditure curve will shift upward and the equilibrium level of national income in Cuba will increase d. U.S. aggregate expenditure curve will shift downward and the equilibrium level of national income in the U.S. will decrease e. U.S. aggregate expenditure curve will shift upward and the equilibrium level of national income in the U.S. will increase