The LCH theory argues that
A) over time, the saving rate of low-income people tended to rise at a faster rate than that of other income groups.
B) the aggregate saving rate depended on the age distribution within the economy.
C) over time, the aggregate saving rate was relatively constant.
D) over time, the aggregate saving rate would increase.
B
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Suppose that Bieber and Rihanna are duopolists in the music industry. In May, they agree to work together as a monopolist, charging the monopoly price for their music and producing the monopoly quantity of songs. By June, each singer is considering breaking the agreement. What would you expect to happen next?
a. Bieber and Rihanna will determine that it is in each singer's self interest to maintain the agreement. b. Bieber and Rihanna will each break the agreement. Both singers' profits will decrease. c. Bieber and Rihanna will each break the agreement. Both singers' profits will increase. d. Bieber and Rihanna will each break the agreement. The new equilibrium quantity of songs will increase, and the new equilibrium price also will increase.
It is believed that in order to promote growth, a top priority of the World Bank and the International Monetary Fund is to
A. focus on basic market foundations of guaranteeing property and contract rights. B. promote the increase of dead capital. C. make more loans. D. join forces and merge into one unit.