Community-wide poverty:
A. is nonexistent in the developed world.
B. creates problems beyond those faced by poor individuals living in wealthier communities.
C. only creates problems in less wealthy countries.
D. None of these is true.
B. creates problems beyond those faced by poor individuals living in wealthier communities.
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Consider two individuals, Ozzy and Sharon, who produce toy boats and yoyos. Ozzy's and Sharon's hourly productivity are as follows:
Yoyos /hour Toy boats /hour Ozzy 12 4 Sharon 10 5 Who has the absolute advantage or comparative advantage in the production of yoyos or boats?
During the Great Depression, the unemployment rate rose to a maximum of about
A) 10 percent. B) 25 percent. C) 50 percent. D) 13 percent. E) 67 percent.
The presence of an incentive system that encourages growth
A) guarantees that growth will occur. B) creates the right conditions for growth to occur. C) cannot exist in poor countries. D) existed even in hunter-gatherer societies. E) means that the government must be a democracy.
Which of the following can sometimes be referred to as "hot money"?
A. Foreign portfolio investment B. Foreign direct investment C. Net capital inflow D. Net capital outflow