An example of a poverty trap is:
A. the malnourished not having enough energy to develop their economy.
B. the uneducated leaving the home country for more opportunities.
C. those not having basic immunizations dying more from rare diseases.
D. All of these are examples of poverty traps.
A. the malnourished not having enough energy to develop their economy.
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The figure above shows the demand and cost curves facing a price-setting firm. The maximum profit the firm can earn is ________.
A. $7,500 B. $8,000 C. -$1,500 D. $7,650 E. -$4,500
To enhance their prestige, some country clubs like to point to the fact that they have a waiting list for new members. Even at clubs with high initiation fees, it is common that prospective members have to wait three or more years before there is room
for them on the membership rolls. How do these country clubs set the price of membership to ensure that they have a waiting list? A) Set the membership price above the market clearing price. B) Set the membership price below the market clearing price. C) Set the price so that the quantity supplied of memberships exceeds the quantity demanded. D) Set the price at a level that will generate a surplus of memberships.
Esmerelda's Egg Emporium is a monopolistically competitive firm. Its marginal revenue curve ________ its demand curve, intersecting the quantity axis ________ the point at which the demand curve intersects it.
A. lies above; twice as far out as B. lies below; midway between the origin and C. is the same as; exactly at D. lies above; midway between the origin and
For U.S. data,
A) median incomes were about the same in 2001 as in 1967 B) median incomes had fallen from 1967 to 2001 C) the spread in incomes had widened some between 1967 and 2001 D) the spread in incomes had narrowed some between 1967 and 2001