Which of the following correctly describes convergence theory?
a. The rate of economic growth in less and more developed countries will be approximately the same.
b. The productivity of skilled and unskilled workers will converge to the same value over time.
c. Economies around the world will become more similar over time as less-developed countries grow faster than highly industrialized countries.
d. The rate of economic growth in highly-developed countries will continue to outpace that of less-developed countries.
c
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DVD players have become more abundant, and cheaper, over the past few years. Explain the decline in DVD player prices
A) DVD manufacturers have become less interested in trying to maximize their profits. B) The demand curve for DVDs has shifted to the left. C) The supply curve for DVDs has shifted to the right. D) The supply curve for DVDs has shifted to the left.
Suppose you decide to borrow money from an online peer-to-peer lending site
On the T-account for the lending site for this transaction, the funds from the investor who chooses to fund the loan would be classified as ________, and the loan made to you would be classified as ________. A) a liability; an asset B) an asset; a liability C) an asset; an asset D) a liability, a liability
It's as simple as this: Bankers hope to make profit by
a. holding people's money at low interest rates and lending it out at higher interest rates b. holding people's money at high interest rates and lending it out at lower interest rates c. charging for bank services such as check clearing and ATM services d. keeping excess reserves in case of a bank run e. charging people to use demand deposit accounts
Which of the following is not possible when a firm is maximizing its profits?
a. MC = MR b. AVC is at its minimum point c. AFC < AVC d. MC = MR and MC is decreasing e. MC = MR and MC is increasing