Imagine that the best and the brightest professionals of the planet Venus migrate to Earth to work. The upside of this brain drain is
a. the remittances sent home to Venus
b. getting rid of snooty Venetians
c. not being able to afford the modern machinery that will help the Venetians become more productive
d. decreased labor supply on Venus
e. increased income inequality on Venus
A
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Using the table, Johnny's marginal cost of the 600th slice of pizza is
A) $3.50. B) $12.50. C) zero. D) $1.50.
Refer to Table 8-9. Suppose that the above table represents the goods and services produced in a very simple economy in 2016. Assume that steel is used as an input in the production of autos. Using that information, calculate GDP for the year 2016
What will be an ideal response?
When the money supply is expanding rapidly and the general level of prices increasing sharply, economic growth is
A) slowed by the resulting unpredictability of the future level of prices. B) enhanced because profits are higher so that capital investment is greater. C) enhanced because existing debt is reduced in value, so people are willing to buy more goods. D) enhanced as economic activity grows more rapidly.
Which of the following types of countries has experienced increasing inequality in recent decades?
A. Poor countries B. Countries with low economic growth C. Rich countries D. All of these have experienced increasing inequality.