The total fertility rate:
A. measures the average number of children that a woman is expected to have during her
lifetime.
B. measures the average number of children that each couple is expected to have during their
lifetime.
C. equals the rate of population change over time.
D. rises as income rises.
Answer: A
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Suppose a competitive market has a horizontal long-run supply curve and is in long-run equilibrium. If demand decreases, we can be certain that in the short-run,
a. at least some firms will shut down. b. price will fall below marginal cost for some firms. c. price will fall below average total cost for some firms. d. at least some firms will enter the industry.
Research for industrially advanced countries indicates that:
A. the more independent the central bank, the lower the average annual rate of inflation. B. the more independent the central bank, the higher the average annual rate of inflation. C. there is no relationship between the degree of independence of a country's central bank A. the more independent the central bank, the lower the average annual rate of inflation. B. the more independent the central bank, the higher the average annual rate of inflation. C. there is no relationship between the degree of independence of a country's central bank