Which of the following best defines the vicious circle of poverty?
a. Countries are poor because of lack of education and training for workers.
b. Countries are poor because of poor international credit.
c. Countries are poor because of high population growth.
d. Countries are poor because they cannot afford to save and invest.
d
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Real investment tends to be
A) procyclical and less variable than real GDP. B) procyclical and more variable than real GDP. C) countercyclical and less variable than real GDP. D) countercyclical and more variable than real GDP.
The U.S. population growth rate in the first half of the 19th century was
a. about the same as that of most European countries. b. lower than that of most European countries. c. much higher than that of most European countries. d. sporadic—sometimes high and sometimes low.
No clearly defined socially preferred outcome may result when majority voting on outcomes because
A) often voters don't understand the outcomes. B) voting may violate the independence of irrelevant alternatives. C) voting may lead to incomplete preferences. D) voting may lead to non-transitive preference.
Refer to the data provided in Table 11.2 below to answer the following question(s). Table 11.2 
Refer to Table 11.2. When the interest rate ________, the farmer will investment in all four projects.
A. is less than 15% B. is greater than 15% C. is greater than 5% D. is less than 5%