How will global warming and climate change adversely impact the "poor," particularly in developing nations?
What will be an ideal response?
The poor are heavily dependent on natural resources, particularly rain fed agriculture.
The infrastructure they live in is also poorly constructed causing the impact of global warming and climate change on their lives and livelihoods to be more severe.
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Legal constraints will always reduce the size of the economic pie
Indicate whether the statement is true or false
In which market structure does one firm sell a good or service with no close substitutes and there is a barrier blocking the entry of new firms?
A) only monopoly B) only oligopoly C) perfect competition D) monopolistic competition E) either monopoly or oligopoly
When the Lorenz curve lies above the diagonal,
a. the poorest 20 percent of the population receive more than 20 percent of income. b. the richest 20 percent of the population receive more than 20 percent of income. c. everyone receives the same income. d. the country's income has been rising over time. e. it is wrong since it is impossible for the graph to look like this.
Consumer sovereignty is mainly applicable to ______ economies.
a. traditional b. centralized c. command d. market