Identify the correct statement
a. Between the 1960s and the 1990s, per capita GDPs grew faster in nonglobalizing countries.
b. Between the 1960s and the 1990s, per capita GDPs grew faster in globalizing countries than in industrialized countries.
c. Between the 1960s and the 1990s, per capita GDP growth rates in the industrialized world increased.
d. Between the 1960s and the 1990s, per capita GDP in the industrialized world decreased.
e. Between the 1960s and the 1990s, per capita GDP in all developing countries increased.
b
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Which of the following economic variables is affected when the government adopts countercyclical fiscal policy?
A) Government spending B) Bank reserves C) Interest rates D) M2 measure of money supply
To maximize profit, the monopolist produces on the ________ portion of its demand where ________
A) elastic; P = MC B) elastic; MR = MC C) inelastic; P = MC D) inelastic; MR = MC
Which of the following is the best example of a natural monopoly?
a. gold mining in the Colorado Rocky Mountains b. filmmaking in Hollywood c. electrical service to homes in Seattle d. production of film by Kodak e. production of computers by IBM
Free market economists
A) believe in the fundamental stability of the economy. B) believe that government policy can create a stable economy. C) and Keynesians hold the same macroeconomic views. D) believe that the Federal Reserve is the source of economic stability.