Which of the following countries has the greatest percentage of people living in extreme poverty?
A. China.
B. India.
C. Bolivia.
D. Congo.
Answer: D
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Reduction in the quality of agricultural land through overuse is called
a. degradation b. deforestation c. desertification d. defenestration. e. none of the above
Because depreciation of the real exchange rate of the dollar increases U.S. net exports, the demand curve for dollars in the foreign-currency exchange market is downward sloping
a. True b. False Indicate whether the statement is true or false
Natural monopolies enjoy strong economies of scale, and so as output increases:
A. average costs are continually falling. B. average costs are continually rising. C. marginal costs are continually rising. D. marginal revenue is continually falling.
The price elasticity of supply is higher when
A) the number of producers in the market increases over time. B) the product in question is a complementary good. C) the number of buyers in the market increases. D) producers have less time to adjust to price changes.