The U.N.'s Millennium Aid Goal is to raise foreign aid levels to ________ percent of donor country GDP.
A. 0.4
B. 10.0
C. 15.0
D. 0.7
Answer: D
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In the real world
A) many firms charge different prices based on consumers' willingness to pay. B) all sellers charge one price set by the government. C) profitable sellers will set one price based on the average elasticity of demand of buyers. D) all sellers charge one price equal to the marginal cost of production.
Economic profit is equal to the difference between:
A) total revenue and the full opportunity cost of all the resources used in production. B) total revenue and implicit costs. C) accounting profit and explicit costs. D) implicit and explicit costs.
Technological refers to
What will be an ideal response?
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. From the information in Table 35.1, it is clear that
A. China has a comparative advantage in computers. B. The United States has an absolute advantage in both goods. C. The United States has a comparative advantage in both goods. D. China has both an absolute and comparative advantage in soybeans.