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1. More people in high-income countries than in low-income countries tend to believe that rapid rates of economic growth are not desirable.
Some people in ______-income countries are ______ with certain consequences of rapid economic growth, such as higher standard of living.
-in low-income countries -are concerned with
-in high-income countries -are satisfied with
2. Which of the following best explains what is actually happening to real per capita GDPs of countries?
a. Lower-income countries have not caught up to higher-income countries at all.
b. Lower-income industrial countries are catching up with higher-income industrial countries.
c. Most countries now have similar real per capita GDP levels.
d. Poor countries are generally catching up with rich countries.
Merk is a biotech division of Bayer Pharmaceuticals. In its eight years of existence, Merk has had only one drug make it into clinical trials.
Assume the monopoly sells its goods in two different markets esparated by some distance. The demand curve in the first market is given by Q1=55-P1,and demand curve in second market is given by Q2=70-2P2.
HoosierMaker expects to garner revenue of $9.5 million each year and spend $1.3 million a year in costs, over the next 7 years. What is the future worth of this investment if the companies' rate of return is 16% per year?
Classify the following topics as relating to microeconomics or macroeconomics?
Which bank is giving the best deal? If they go with that bank, how many dollars in interest will they pay?
Explain your answer the economy experiences an unexpected recession; the price of Good Z increases. The price of Good Y increases; the price of Good Z increases.
Two bidders are about to compete in an auction for an object. Each of them has a private value for the item that the other believes is distributed uniformly from zero to fifty. Suppose that the auction format is a first-price sealed-bid auction. Prov..
Which of the following is a list of nonrival private goods only? Economic theory suggests that college graduates receive higher wages than those with only a high school education because:
The Solis Company has estimated the demand curve for its product is represented by the equation: where is the quantity sold per year and is the price per unit. (a) Based on the estimated demand curve, write the equations for Solis'.
Illustrate what cost should each industry charge if it wants to maximize its profit. Why are costs and output of industries 1 and 2 same however different for industry 3.
An engineer deposits $900 each month into a retirement account. After 30 years, the balance in the account is $1.7 million. Determine the effective annual rate of return for this account.
Review options available for managing this foreign-currency liability. Is there any reason to prefer one course of action over another.
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