Which of the following countries had the highest fertility rate in 2012?
A. Japan
B. China
C. Germany
D. The United States
D. The United States
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Explain what is meant by "internalizing an externality," and describe three methods by which this can be done.
What will be an ideal response?
If economic profits in an industry are zero and implicit costs are greater than zero, then:
A. Resources will move out of the industry B. There will be no production in the short run C. Accounting profits are greater than zero D. New firms will enter the industry
Refer to the diagram. At the equilibrium exchange rate:
A. $8 will buy 1 euro.
B. 0.8 euros will buy $1.
C. 1.25 euros will buy $1.
D. $1 will buy 8 euros.
The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the change in consumer surplus associated with a minimum floor price of $40?
A) -$25 B) -$150 C) -$175 D) -$200