Countries with high real GDP tend to have ________ infant mortality rates and ________ literacy rates than countries with low real GDP.
A. lower; higher
B. higher; lower
C. lower; lower
D. higher; higher
Answer: A
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Technological innovations are not necessarily major scientific breakthroughs
Indicate whether the statement is true or false
Explain why a monopoly that knows the demand curve of identical consumers can set a two-part price with the lump sum tariff equal to the total amount of potential consumer surplus
What will be an ideal response?
All these increase differentiation, except
a. Product branding b. Reducing quality c. Advertising d. Limiting availability
Variable tolls on roads
a. are politically unpopular because people do not like the idea of paying for a good that they used to consume without paying for it directly. b. rise when traffic volume increases to ensure the speed on the road is kept high. c. are an effective way of correcting the common resource problem on roads. d. All of the above are correct.