Poverty is most likely to decrease in which of the following situations:
A. The size of the labor force decreases.
B. Population grows more rapidly than GDP.
C. The population decreases and GDP stays constant.
D. Population and the economic growth rate both decrease.
Answer: C
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Real business cycle theorists think that most business cycle fluctuations are caused by shocks to
A) the production function. B) the size of the labor force. C) the real quantity of government purchases. D) the spending and saving decisions of consumers.
An efficiency wage is a wage that:
A. the government sets deliberately above the market rate to increase equity. B. most unionized workers negotiate to get rid of. C. is deliberately set above the market rate to increase worker productivity. D. is set right at market equilibrium which creates an efficient labor market.
George is a gift giver and Roger is a gift recipient. George has Roger in his utility function, but Roger does not have George in his utility function. Roger may try to get George to __________________ George's efficient number of gifts to (give)
A) give more gifts to him than B) reduce the number of gifts he receives below C) increase the number of gifts he receives beyond D) a and b E) a and c
Phytosanitary regulations apply to which of the following?
A) Eggs B) Meats C) Plants D) All of the above