GDP per capita is about 10 times higher in industrially advanced countries (IACs) than in the poorer less-developed countries (LDCs)
a. True
b. False
Indicate whether the statement is true or false
False
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Empirical studies suggest that as real GDP per person increases the level of pollution:
A. decreases. B. remains constant. C. first increases then decreases. D. increases.
If a lower exchange rate spurs exports then why wouldn't it be a good idea of policymakers to intervene to push the exchange rate as low as they can?
What will be an ideal response?
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Assuming there are no externalities, if a firm is producing at an output level where the benefits to consumers are less than the cost to the suppliers to produce it, then price
A. is greater than marginal cost. B. is less than marginal revenue. C. equals marginal cost. D. is less than marginal cost.