What is the relationship between debt, falling commodity prices and rainforest degradation?
What will be an ideal response?
Discussed in the chapter.
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Which of the following is a characteristic of capitalism?
a. Equality of income. b. Government decision-making is preferred to decentralized decision-making. c. Market determination of prices and quantity. d. Government ownership of all capital.
If the exchange rate between the U.S. dollar and the Russian ruble was 0.04 ($0.04 = one ruble), what would be the price in dollars of a bottle of Russian wine selling for 2,000 ruble?
a. $50 b. $80 c. $100 d. $500
A nation that devotes more of its resources to capital investment is likely to:
A. decrease the slope of its production possibilities curve. B. shift inward its production possibilities curve. C. increase the slope of its production possibilities curve. D. shift outward its production possibilities curve.
Suppose that the income elasticity of demand for new clothes is positive. Other things being equal, which of the following statements is correct?
A. New clothes are a normal good. B. The quantity demanded of new clothes decreases as a consumer's income declines. C. There exists a positive relationship between income and the demand for new clothes. D. All of these