What is "brain drain"?
A) increased recruiting efforts that attempt to raise the average level of education in developed nations
B) the loss of highly educated people from a low-income country as they move to higher-income opportunities in foreign countries
C) foreign direct investment that flows from a developed country to a developing country
D) the tendency for highly educated workers in high-income countries to move to low-income countries to volunteer their services
B
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In the basic 45-degree line model, what is the effect of an increase in the price level?
a. There will be movement to the left on the expenditure line. b. There will be movement to the right on the expenditure line. c. The expenditure line will shift downward. d. The expenditure line will shift upward.
Which of the following is a good example of government's attempt to correct for macroeconomic externalities?
A. Preventing excessive amounts of pollution B. Providing for smoke-free public spaces C. Maintaining full employment D. Providing public goods
Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, according to the profit maximization rule, at the profit-maximizing level of output marginal, cost is
A. $300. B. $200. C. $350. D. $250.
Suppose that one country has a GDP that is ten percent of its richer neighbor, but the poorer country is growing at a rate of eight percent per year while the richer country is growing at a rate of two percent per year. Which country will be richer in 60 years?
What will be an ideal response?