The capabilities approach allows us to focus on issues of:
A. income, poverty, and economic growth.
B. poverty, inequality, and human development.
C. human development, capital development, and technological progress.
D. personal happiness, individual pleasure, and pain avoidance.
Answer: B
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Which of the following is a correct statement regarding the balance sheet of the Federal Reserve?
A) Fed assets = Fed liabilities + Federal Reserve notes B) Fed assets = Fed liabilities + Fed capital accounts C) Fed assets = Fed liabilities + bank reserves D) Fed assets = bank reserves + Federal Reserve notes outstanding
Other things being equal, the effect of a decrease in the price of Coca-Cola would cause which of the following?
a. A rightward shift in the demand curve for Coca-Cola. b. A downward movement along the demand curve for Coca-Cola. c. A leftward shift in the demand curve for Coca-Cola. d. An upward movement along the demand curve for Coca-Cola.
If actual inflation is less than the expected rate of inflation, then probably
a. the borrower gains at the expense of the lender. b. neither the borrower nor the lender gains. c. the lender gains at the expense of the borrower. d. the purchasing power of the borrower is increased.
A defining characteristic of an oligopoly is:
A. barriers to entry prevent newcomers to such an industry. B. easy entry and exit prevent long-run profits from being possible. C. firms in the industry know they are competing with a few large firms with market power. D. all firms sell a standardized product.