Which of the following is a major obstacle to economic growth in DVCs?
A. A fall in population growth
B. A decline in demographic transition
C. The low demand for natural resources
D. The low supply of saving
D. The low supply of saving
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Jerome has a "C" average in his philosophy course and a "B" average in his economics course. He decides to study an extra hour for his philosophy exam. This is an example of
A) ceteris paribus. B) caveat emptor. C) using assumptions to simplify. D) thinking at the margin.
(Use the graph of the wheat market in Economic Insight 9.1, on p. 162 of the text.) S1 shows the supply curve for wheat in the local market. S2 shows the supply curve for wheat in more distant markets in the early 1800s. S3 shows the supply curve for wheat in more distant markets in the mid-1800s. Given the information provided, we can conclude that
a. the price that wheat producers received per bushel rose from P2F to P2C during the antebellum period. b. the price paid by wheat buyers in distant markets fell from P2C per bushel to P3C per bushel during the antebellum period. c. in the mid-1800s, wheat buyers in distant markets paid P3F per bushel and wheat producers received P3C per bushel. d. wheat producers received a price of P3C for wheat in the early 1800s.
The forward exchange market:
a. Handles transactions for individuals or companies who would like to reduce foreign exchange risk by locking in exchange rates now. b. Is a market with no default risk. c. Provides sufficient liquidity for any maturity and amount. d. All the above.
In recent years, the Canadian province of British Columbia has increased its carbon tax. Which of the following statements is correct?
a. Despite the increase in the carbon tax, emissions of greenhouse gases in British Columbia have continued to increase at a rapid rate. b. Along with the increase in the carbon tax, British Columbia has decreased income-tax rates on individuals and corporations. c. Few, if any, economists favor carbon taxes such as the one that British Columbia has imposed. d. All of the above are correct.