In general, one would expect that life expectancies reflect international differences in income levels. Do the data support such a claim?
A) Average life span falls as relative poverty falls.
B) Average life span increases as relative poverty falls.
C) There is no statistically significant relationship between the two.
D) The relation is not very strong.
E) The relationship looks more like a U-shape.
B
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If goods X and Y are complements, the
A. quantities demanded of X and Y tend to move in opposite directions. B. quantities demanded of X and Y tend to move in the same direction. C. prices of X and Y tend to move in the same direction. D. supply curves for X and Y tend to move in the same direction.
Following a recession businesses are likely to be ________ and thus ________ the user cost of capital
A) optimistic; overestimate B) pessimistic; overestimate C) optimistic; underestimate D) pessimistic; underestimate
If consumption = $5,000; investment = $800, government purchases = $700, exports = $30, imports = $60, and transfer payments = $340, then _____
a. GDP = $7,400 b. GDP = $7,740 c. GDP = $3,140 d. GDP = $6,470 e. GDP = $6,840
"Consumer sovereignty" means that:
A. buyers can dictate the prices at which goods and services will be offered. B. advertising is ineffective because consumers already know what they want. C. buyers control the quality of goods and services through regulatory agencies. D. buyers determine what will be produced based on their "dollar votes" for the goods and services offered by sellers.