If two countries are economically identical except that citizens in one country have more leisure time, then the level of GDP:
A. will be the same in both countries.
B. will be higher in the country with more leisure time.
C. will be higher in the country with less leisure time.
D. will be greater than the level of economic well being in each country.
Answer: A
Economics
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Which of the following is TRUE?
I. As the real interest rate increases, people increase the quantity they save. II. The supply of loanable funds curve is downward sloping. III. As disposable income increases, the supply of loanable funds curve becomes steeper. A) I and III B) II and III C) I only D) III only
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When firms already in the industry produce under conditions of substantial economies of scale, the market is said to be contestable
Indicate whether the statement is true or false
Economics