Suppose it costs a farmer $1.00 to produce 1 unit of corn, $2.10 to produce 2 units of corn, and $3.30 to produce 3 units of corn. What's the average cost of producing 3 units of corn?

The study of factors that contribute to the economic development of a country is

A) development economics. B) the theory of technological advancements. C) population growth economics. D) the new technology theory.

When a depreciation in the nation's real effective exchange rate initially lowers the trade balance and then increases it, economists refer to the phenomenon as:

a. the K-curve effect. b. the J-curve effect. c. the real balances effect. d. the marginal propensity to import.