Which of the following countries is least likely to have a dual economy?
A. Austria
B. India
C. Brazil
D. South Africa
Answer: A
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In the very long run, the level of consumption per worker can grow continually if
A) the saving rate continually falls. B) the population growth rate continually rises. C) productivity continually improves. D) the depreciation rate continually rises.
Law of Demand
What will be an ideal response?
Figure 18-3
In which panel of Figure 18-3 would an excise tax be borne entirely by the consumer?
A. 1 B. 2 C. 3 D. 4
When a firm hires a worker for one hour, the marginal cost to that firm equals the:
A. hourly wage of that worker. B. diminishing marginal productivity of that worker. C. price of each item that the worker produces in that hour. D. average total cost of production at the quantity produced.