The BRICs share all of the following EXCEPT
A) they are getting a rising share of international trade and foreign investment.
B) they are easy places to do business.
C) their governments have a lot of power and authority in economic affairs.
D) to varying degrees they all present a new model, sometimes referred to as state capitalism.
B
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Real GDP can increase if the
i. quantities of goods and services produced decrease and prices fall by a smaller percentage. ii. quantities of goods and services produced decrease and prices fall by a larger percentage. iii. quantities of goods and services produced decrease and prices do not change. iv. quantities of goods and services produced increase. A) i and iii B) iii only C) i only D) iv only E) i, ii, and iii
The productivity curve shifts upward when
A) technology advances. B) physical capital increases. C) hours of labor increase. D) hours of labor decrease. E) human capital decreases.