Higher-income countries tend to have lower levels of absolute poverty because they
a. have more employment opportunities.
b. have more public assistance.
c. have greater entrepreneurship opportunities.
d. All of the above.
Answer: d. All of the above.
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The world is more likely to run out of gold than it is to run out of bald eagles
Indicate whether the statement is true or false
When the U.S. government runs a deficit, the resulting higher interest rate:
A. reduces firms' desire to invest, and "crowds out" domestic investment. B. increases firms' desire to invest, but "crowds out" domestic investment. C. reduces foreigners' willingness to invest in the U.S., but still "crowds out" domestic investment. D. increases foreigners' willingness to invest in the U.S., which "crowds out" domestic investment.
Absolute advantage is determined by comparing the opportunity costs of producing each good in different countries
a. True b. False Indicate whether the statement is true or false
A simultaneous rise in both aggregate demand and short-run aggregate supply will definitely
A) raise the price level, but there is not enough information provided to know how Real GDP will change. B) lower Real GDP, but there is not enough information provided to know how the price level will change. C) raise the price level and Real GDP. D) raise Real GDP, but there is not enough information provided to know how the price level will change. E) raise the price level and lower Real GDP.