According to the World Bank, nearly 2 billion people are classified as being in ________ poverty.
A. harsh
B. extreme
C. overwhelming
D. severe
Answer: D
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An increase in tuition rates for astronomy students would
a. decrease the wage rate for astronomers b. cause the demand curve for astronomers to shift to the right c. cause the demand curve for astronomers to shift to the left d. lead to future reductions in the labor supply of astronomers e. lead to a rise in the marginal revenue product of astronomers
Which of the following defines a soft peg?
A) An exchange rate determined by the market B) An exchange rate that fluctuates within a set band C) An exchange rate that is not allowed to vary D) An exchange rate that is backed by gold
The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $350 per month as the legal maximum rent, the loss in social welfare equals
A) b + c. B) f. C) a. D) f + g.
Once a point on a contract curve has been chosen,
A) it is possible to make both individuals better off. B) it is possible to make one individual better off only at the expense of the other. C) there is no change that would make both individuals worse off. D) it is impossible for both individuals to have more of both goods.