Which of these sets of nations are considered high-income economies?
A. Brazil, Thailand, and South Africa.
B. China, India, and Russia.
C. Canada, Switzerland, and France.
D. United States, South Korea, and Mexico.
C. Canada, Switzerland, and France.
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If the marginal value of a third soda is $1.50 to Jackie, then
a. Jackie would be willing to pay no more than $4.50 for three sodas. b. Jackie places a total value of less than $4.50 on three sodas. c. Jackie would pay no more than $1.50 for an additional soda when she has already consumed 2 sodas. d. Jackie would pay no more than $1.50 for any soda.
Microeconomics is often called
A) price theory. B) decision science. C) scarcity. D) resource theory.
This graph depicts a tax being imposed, causing demand to shift from D1 to D2. The deadweight loss associated with the tax imposed in the graph shown is:
A. equal to area CBD.
B. equal to area ABC.
C. due to the decrease in consumption from Q1 to Q2.
D. equal to area P1DCP2.
Most economists believe that the financial crisis of 2008 began because of problems in the ____ industry
a. computer b. automotive c. housing d. banking