Which of the following does not contribute to low farm productivity in poor nations?
A. Limited infrastructure.
B. Lack of machinery.
C. Inferior technology.
D. Lack of effort.
Answer: D
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Economists believe that people who force themselves to always eat everything on their plate at a restaurant, regardless of how full they might feel, likely do so because:
A. they gain negative utility from insulting the chef. B. they overvalue the opportunity costs of their health and time involved with eating food they don't really want. C. they include the sunk cost of their meals in making their decision. D. they undervalue the true benefit of eating too much.
The greater the marginal propensity to consume (MPC) in the economy, the greater the spending multiplier
a. True b. False Indicate whether the statement is true or false
Which of the following results from one group in a society receiving a disproportionate share of wealth than others in that society?
a. Income inequality b. Poverty growth c. Income redistribution d. Economic recession
What is the political business cycle and how does it relate to whether the central bank should have discretion or use a rule?