Developing countries send their best students to get an education in developed countries to help develop:
A. more education people.
B. a channel of communications.
C. a skilled work force.
D. better political skills.
Answer: C
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For a demand-pull inflation to persist requires persistent increases in
A) real GDP. B) the quantity of money. C) tax rates. D) government expenditures. E) the real wage rate.
If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology
Indicate whether the statement is true or false
The fact that a society's production possibilities curve is bowed out from the origin of a graph demonstrates the law of:
A) increasing opportunity cost. B) decreasing opportunity cost. C) constant opportunity cost. D) convex opportunity cost.
Command systems are also known as:
A. market systems. B. pure capitalism. C. laissez-faire capitalism. D. communism.