The Human Development Index does not contain a component on
a. income
b. literacy
c. food intake
d. life expectancy
e. it contains components of all
C
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Recall the Application. If the decrease in price of illegal drugs is primarily due to a change in supply, the equilibrium quantity of drugs
A) will increase. B) will decrease. C) will not change. D) may or may not change.
Which one of the following statements is false if we increase the discount rate used to allocate a resource across two time periods?
a. The resource will tend to be used up quicker b. The price of the resource will tend to rise faster c. Current consumption of the resource will increase d. The appropriate resource depletion tax will increase e. Future supplies of the resource will decrease
Dr. Homer Simpson, an economics professor, decided to take a year off from teaching to run a commercial fishing boat in Alaska. That year, Professor Simpson would be officially counted as
A. employed. B. structurally unemployed. C. not in the labor force. D. frictionally unemployed.
The relationship between planned consumption and real disposable income is referred to as
A. the multiplier. B. the wealth function. C. the saving function. D. the consumption function.