What are the most important characteristics that have shaped Brazil's economic and social progress during the last three decades?
What will be an ideal response?
Discussion should include the large degree of income inequality, the need for land reform as a result of the dualistic nature of the land tenure system and the environmental challenge faced by what is one of the world's most environmentally diverse countries.
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When does the burden of a tax imposed on a good fall more heavily on sellers?
What will be an ideal response?
Externalities can be internalized through voluntary agreements as long as
A. transaction costs are low relative to expected benefits. B. transaction costs are high relative to expected benefits. C. the agreement is a short-run agreement. D. the agreement is a long-run agreement.
Points ____________ the production possibilities curve (PPC) are produced efficiently so long as an economy uses all of its available resources.
a. beyond b. inside c. along d. below
The exchange rate between currencies depends on
A) the interest rate that can be earned on deposits of those currencies. B) the interest rate that can be earned on deposits of those currencies and the expected future exchange rate. C) the expected future exchange rate. D) national output. E) the interest rate that can be earned on deposits of those countries and the national output.