Which of the following is correct?
a. Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.
b. Most countries have had little fluctuation around their average growth rates during the past 120 years.
c. The ranking of countries by income changes little over time.
d. Even though Japan had a higher growth rate of real GDP per person than the U.S. over the last 120 years, it's level of real GDP per person is less than that of the U.S.
d
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Assume that at the current level of output, price equals marginal revenue, but is less than average total cost. So long as price is greater than average variable cost, the firm should continue to operate in the short run to minimize its losses
Indicate whether the statement is true or false
The decline in the value of the dollar from 1985 to 1988 was beneficial to
a. American tourists travelling to Europe. b. firms importing goods into America. c. American exporting businesses. d. foreigners holding U.S. government bonds.