Suppose the per capita GDP of Petrovia was $2 million in 1966 . If it grows at an annual rate of 8 percent per year, its per capita GDP after 2 years will be _____
a. $2.3 million
b. $9.8 million
c. $15.5 million
d. $5.1 million
a
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Intra-industry trade will tend to dominate trade flows when which of the following exists?
A) small differences between relative country factor availabilities B) large differences between relative country factor availabilities C) homogeneous products that cannot be differentiated D) constant cost industries E) uneven distribution of abundant resources between two countries
Which of the following disinflationary monetary policies would classical economists prefer?
A) A cold turkey approach that is announced and credible. B) A cold turkey approach that is announced, but not credible. C) A gradual approach that is announced and credible. D) A gradual approach that is unannounced.
A firm's demand curve for labor is equal to the
A) total revenue product. B) marginal revenue product. C) marginal factor cost. D) marginal wage.
A merger of firms with a supplier is a:
a. vertical merger. b. conglomerate merger. c. monopoly merger. d. horizontal merger.