Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output
a. 16 percent; 50 percent
b. 40 percent; 75 percent
c. 40 percent; 58 percent
d. 55 percent; 65 percent
e. 38 percent; 55 percent
a
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Refer to Figure 7-2. The efficient equilibrium quantity is ________ thousand vaccinations
A) 200 B) 400 C) 600 D) > 600
If a currency rapidly depreciates, what are the possible negative results to the economy of using contractionary monetary policy to address the depreciation?
What will be an ideal response?
Economic agents have an incentive to formulate expectations rationally
A) because ignoring information is usually costly. B) to increase prices. C) to reduce wages. D) to ensure that all expectations are realized.
As we work fewer hours and our leisure time increases, the opportunity cost of labor
A. Rises and the marginal utility of income rises. B. Falls and the marginal utility of income falls. C. Falls and the marginal utility of income rises. D. Rises and the marginal utility of income falls.