The annual rate of growth of commodity output during the Civil War:
a. held constant from the previous decade.
b. increased by roughly 25 percent.
c. fell by more than 50 percent.
d. None of the above is correct.
c. fell by more than 50 percent.
Economics
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In the Solow growth model, an increase in the savings rate
A) raises steady state per capita output. B) raises the growth rate in aggregate output. C) must reduce per capita consumption. D) must reduce the standard of living.
Economics
Price discrimination exists when
A) a firm charges different buyers different prices for its product but the costs are the same. B) each buyer is treated equally. C) sales are made below cost. D) a firm charges each buyer a price of the product in proportion to its costs.
Economics