Based on the per capital income data for selected countries in 2009, India, Brazil, and China can be categorized as high-income economies
Indicate whether the statement is true or false
false
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The primary problem with the argument that "we agree to be coerced if everyone is coerced" to do an action is _____
a. there is no way to know whether it is true or not b. it only applies to a limited number of situations c. it only applies to actions in the public interest d. there is no way to force everyone else to go along
An economic model is a realistic depiction of the operation of the economy.
Answer the following statement true (T) or false (F)
When total revenue minus total economic cost is equal to zero, the firm is
a. earning above-average economic profit. b. earning the normal profit rate. c. losing too much money to stay in business. d. earning abnormally low profits.
The aggregate demand and aggregate supply curve intersect
A. at potential GDP. B. below potential GDP. C. above potential GDP. D. at a point which may or may not be equal to potential GDP.