The concept of inequality
A. has no economic meaning.
B. applies to low income countries only.
C. is an extension of relative poverty.
D. is only a theoretical concept.
Answer: C
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Runs on banks occur when
A) banks keep 100 percent of their deposits on hand. B) depositors are confident that the bank will not go bankrupt. C) banks make an unusually high number of profitable loans. D) many depositors attempt to withdraw their funds simultaneously.
Goods differ on the basis of whether their consumption is rival and excludable. Explain the terms "rival," nonrival," "excludable," and "nonexcludable" as they are used to define goods
List the four categories of goods and define these categories in terms of rivalry and excludability.
What lessons did Mexico's policy makers learn from the 1980s debt crisis? What reforms did President Salinas pursue? What were his main goals?
What will be an ideal response?
Backward induction is a useful tool for:
A. finding an optimal strategy in a sequential game. B. analyzing the decisions in a prisoner's dilemma-type game. C. finding an optimal strategy in a simultaneous game. D. Backward induction is useful in any of these games.