The number of people in the world who are absolutely poor is closest to
a. a quarter-billion.
b. a half-billion.
c. one and a half billion.
d. two billion.
e. four billion.
Answer: c. one and a half billion.
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Real business cycle theory argues that the primary cause of business cycles is fluctuations in
A) preferences. B) government spending. C) the importance of externalities. D) total factor productivity.
What does a production possibilities curve show?
What will be an ideal response?
Refer to the above figure. MRP0 represents
A) the supply curve for the product. B) the supply curve for labor. C) the demand curve for the product. D) the demand curve for labor.
Which of the following would be added to U.S. national income?
a. an American consumer buying French wine b. an American business selling aircraft to British Airways c. a Swedish firm selling mobile phones to Americans d. a French firm buying a Swedish cellular phone