The "Asian miracle" refers to the:
A. fact that countries like Japan and South Korea have had consistent growth despite their failing industrial policies.
B. high growth in countries like Japan and South Korea despite the absence of a democratic government.
C. success countries like Japan, South Korea, and Taiwan have had with import substitution policy.
D. success countries like Japan, South Korea, and Taiwan have had with export-led growth policy.
Answer: D
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If the consumer sentiment index turns down sharply over a period of several months, which of the following is most likely to occur in the near future?
a. an increase in aggregate demand and expansion in real output b. a reduction in aggregate demand and a contraction in real output c. a reduction in aggregate demand and expansion in real output d. an increase in aggregate demand and a contraction in real output
A monopolist must produce a good for which there are no close substitutes.
Indicate whether the statement is true or false.
Which of the following is true for a firm with a downward-sloping demand curve for its product?
A) Price, average revenue, and marginal revenue are all equal. B) Price, average revenue, and marginal revenue are all different. C) Price equals average revenue but is greater than marginal revenue. D) Price equals average revenue but is less than marginal revenue.
The reason some insurance customers are more eager to purchase insurance is
a. they are more risk averse b. they are less risk averse c. they have a greater risk of making a claim d. Both A&C