China and India both have rapidly developing economies. Which of the following characteristics is shared by India and China?
A. Both have high literacy rates.
B. Property rights are well established in both countries.
C. Both have embraced free-market economies.
D. Both are democratic countries.
Answer: C
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Only one out of five families that fall into poverty in one year are out of poverty in the following year
Indicate whether the statement is true or false
Output divided by the number of hours worked or by the number of workers is called
A. marginal product. B. average input. C. average product. D. marginal revenue.
The ratio of the total shift in aggregate demand to the initial shift in aggregate demand is known as the multiplier.
Answer the following statement true (T) or false (F)
Division of labor means that
A) the labor market in the United States is geographically segmented. B) some employees join labor unions and others do not. C) management and labor are always in conflict. D) the production process is divided into smaller tasks.