The textbook suggests that if the governments of poor countries genuinely want faster economic growth, they are making a serious mistake if they
What will be an ideal response?
neglect the education of girls.
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A firm faces competitive markets for its inputs and its output. Its marginal revenue product of labor
A) is increasing in the output price. B) is decreasing in the output price. C) is independent of the output price. D) has an inverted U-shape.
Many economists argue that the most efficient way to control pollution is to
A. ban all activities that create pollution. B. enforce legal standards on air and water quality. C. promote environmental awareness among citizens. D. impose taxes on emissions.
The domestic demand and supply for sugar are Qd = 700 ? 2P and QSD = 100 + 4P. The foreign supply is QSF = 150 + 3P. What is the total supply of sugar in the domestic market?
A. Q = 150 + 3P B. Q = 850 + P C. Q = 800 + 2P D. Q = 250 + 7P
The index used most often to measure inflation is the
A. GDP deflator. B. wholesale price index. C. producer price index. D. consumer price index.