Approximately what percent of the world's income is received by the poorest one-fifth of the world's population?
A. 2.
B. 5.
C. 7.
D. 10.
A. 2.
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Consider two countries—country A and country B. Both countries are exactly similar in all aspects except for one. The institutions in country A are inclusive while the institutions in country B are extractive
Given this information, which of the following statements is likely to be true? A) Both countries are likely to be capitalistic. B) Both countries are likely to be totalitarian. C) Country A is likely to have well-defined property rights, while country B is likely to lack well-defined property rights. D) Country B is likely to have well defined property rights, while country A is likely to lack well-defined property rights.
One way to overcome the problem of the commons is to
A) assign property rights so that someone owns the resource. B) take away property rights so that no one owns the resource. C) leave the market alone because the market will reach an equilibrium in which the efficient amount of the resource is used. D) None of the above answers is correct.
The 500,000 foreign students in our universities and colleges add to our ______ balance of trade in ______.
Fill in the blank(s) with the appropriate word(s).
Long-run average costs at any output level will:
A. always be greater than or equal to short-run average total costs. B. always be less than or equal to short-run average total costs. C. sometimes be less than and sometimes greater than short-run average total costs. D. always be equal to short-run average total costs.