Measured as a share of GDP, the net federal debt
a. increased during the 1990s, but fell sharply during 2001-2011.
b. fell during most of the 1990s, but rose sharply during 2001-2011.
c. was virtually unchanged during the 1990s, but fell sharply during 2001-2011.
d. fell during the 1990s, but was virtually unchanged during 2001-2011.
B
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The case of New Zealand, described in the text, is concerned with the country's
A) prospects for long term growth. B) ability to sustain current account deficits. C) unproductive industrial sector and its prospects for long run growth. D) labor productivity. E) exchange rate volatility relative to other currencies.
Refer to Scenario 5.3. Based on the 10 years' past performance, rank the companies' expected revenue, highest to lowest:
A) Whizbo, Yowzo, Zowiebo B) Whizbo, Zowiebo, Yowzo C) Zowiebo, Yowzo, Whizbo D) Zowiebo, Whizbo, Yowzo E) Zowiebo, with Whizbo and Yowzo tied for second
A monopoly is most likely to emerge and be sustained when:
A. economies of scale are large relative to market demand. B. firms have U-shaped average total cost curves. C. output demand is relatively elastic. D. fixed capital costs are small relative to total costs.
The marginal rate of transformation is the
A. slope of the production possibility frontier. B. transformation of resources into a form that is useful to people. C. process of using resources to produce new capital. D. dollar value of the best forgone alternative.