When we compare poor and rich countries in the world
A) There is much greater dispersion in growth rates in per capita income for the poor countries than for the rich countries.
B) The investment rate is higher for poor countries than for rich countries.
C) There is much greater dispersion in growth rates in per capita income for the rich countries than for the poor countries.
D) Population growth rates are higher in rich countries than in poor countries.
A
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Which of the following statements regarding the long run for a profit-maximizing monopolistically competitive firm is FALSE?
A) The firm is making zero economic profit. B) The firm produces the quantity of output for which marginal revenue equals marginal cost. C) The average total cost equals the price. D) The firm produces the quantity at which the marginal revenue curve intersects the demand curve.
Employees at the hospital have negotiated a 3 percent increase in wages for the next year, based on their inflation expectations. If inflation is actually 5 percent over the next year, which of the following will occur?
A) Real wages for hospital employees will fall. B) The increase in inflation is expected. C) Inflation will be 3 percent the following year. D) Unemployment of hospital employees will rise.