A country is categorized as a low-income economy by the World Bank if its per capita income is below:
a. $1,000.
b. $100.
c. $10,000.
d. $50.
e. $5,000.
a
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Suppose that the average football player earns $1 million per year and that there are 500 players. The average school teacher earns $25,000 per year and there are 1 million teachers. From this we can say that
a. football players are paid too much. b. teachers are paid too little. c. the group of football players must be more valuable than teachers as a group. d. teachers as a group are more valuable than the group of football players.
The figure above shows ________ relationship between the two variables
A) a positive B) a negative C) no D) an inverse
In which field would economic rents likely be greatest for the best in their field?
A) farming B) teaching C) hockey D) car repairing
According to Keynesians, an increase in the money supply will have its least impact on GDP when the aggregate demand curve intersects:
a. the horizontal portion of the aggregate supply curve. b. the vertical portion of the aggregate supply curve. c. the upward sloping portion of the aggregate supply curve. d. either the horizontal or upward sloping portion of the aggregate supply curve. e. either the horizontal or upward sloping portion of the aggregate supply curve.