Increasing environmental awareness in the United States has occurred with increasing GDP, which has reduced concerns about basic needs
a. True
b. False
Indicate whether the statement is true or false
True
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A poor person in the United States has ________.
A. a higher per capita real income than the average poor person in the world B. a lower per capita real income than the average poor person in the world C. the same per capita real income as the average poor person in the world D. the same per capita real income as the average poor person in the world, but has a lower standard of living
Which of the following statements is correct?
A) A change in demand or supply can only be caused by a change in price. B) A simultaneous decrease in demand and increase in supply will result in an increase in equilibrium price and uncertain effect on quantity. C) If price is currently above equilibrium, market adjustments will result in a decrease in price and quantity supplied. D) An increase in supply invariably leads to a shortage in the affected market.
With its current levels of input use, a firm's MRTS is 3 (when capital is on the vertical axis and labor is on the horizontal axis). This implies
A) the firm could produce 3 more units of output if it increased its use of capital by one unit (holding labor constant). B) the firm could produce 3 more units of output if it increased its use of labor by one unit (holding capital constant). C) if the firm reduced its capital stock by one unit, it would have to hire 3 more workers to maintain its current level of output. D) if it used one more unit of both capital and labor, the firm could produce 3 more units of output. E) the marginal product of labor is 3 times the marginal product of capital.
Expenditures for services such as tourism, income for foreign investment, and foreign gifts are tabulated in the:
a. current account. b. capital account. c. official reserve account. d. goods account.