Average income has been stagnant for many years in
a. Western European counties.
b. some Asian countries like South Korea and Singapore.
c. some Sub-Saharan African countries.
d. All of the above are correct.
c
You might also like to view...
Refer to Figure 22-4. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to cut its support of university research in half, this would cause a movement from A) B to D. B) B to E. C) B to C. D) B to A.
Angelo's Calzones is opening a new location in Colorado. To attract new customers, the managers of Angelo's advertise the following slogan, "Angelo's Calzones: The BEST Calzone You Will Ever Eat!" If Angelo's calzones are really of poor quality, this is an example of ________ a(n) ________ good.
A) falsely advertising; credence B) greenwashing; credence C) greenwashing; experience D) falsely advertising; experience
Which of the following statements uses the term ceteris paribus correctly?
A) In economics, there are numerous theories, ceteris paribus. B) New York City is a major American city, ceteris paribus. C) The price of pineapples is low in Hawaii, ceteris paribus. D) The more ice cream you eat, the more weight you will gain, ceteris paribus. E) none of the above
Firm A has a strictly higher marginal cost than firm B. They compete in a homogeneous product Bertrand duopoly. Which of the following results will NOT occur?
A. Revenue of firm A < Revenue of firm B B. ProfitA = 0 < ProfitB C. PriceA < PriceB D. QA < QB