Rwanda is a clear example of a country that has:
A. failed to achieve economic growth without a democratic regime.
B. achieved economic growth only after a democratic regime was in place.
C. achieved economic growth without a democratic regime.
D. failed to achieve economic growth, despite having a democratic regime.
Answer: C
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Refer to Figure 4-10. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the quantity of apartments demanded at the new price?
A) Q1 B) 0 C) Q0 D) Q*
A firm's markup:
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price. B. is the amount by which its marginal cost exceeds its average cost. C. is the amount by which its average cost exceeds its marginal cost. D. is the value of its profit.
An undervalued exchange rate is an exchange rate:
A. that equals the number of units of a foreign currency over the number of units of domestic currency. B. that has an officially fixed value greater than its fundamental value. C. that has an officially fixed value less than its fundamental value. D. at which the quantities of currencies demanded and supplied in the foreign exchange market are equal.
The marginal propensity to consume is
A. real saving/real disposable income. B. real consumption/real disposable income. C. change in real saving/change in real disposable income. D. change in real consumption/change in real disposable income.