A firm is said to be a price taker if it:
A) can affect the market price of goods by changing its supply.
B) sells as much of any good as it wants at the prevailing market price.
C) consults the government before fixing the price of its goods and services.
D) is not free to enter a new market or exit from an existing market.
B
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An AIDS epidemic hurts an economy by
a. requiring additional expenditures on health care b. reducing the working-age population c. increasing the child mortality rate d. reducing the growth of output e. all of the above
What economic variables would you need to consider in order to distinguish between a developing country with a short-term balance of payments problem and one in a debt crisis? Explain what data you would need to look at and why
What will be an ideal response?