In 2011, the average American earned about $48,000 while the average Nigerian earned about $1,200 . Which of the following statements is likely?
a. The average American purchases more televisions than the average Nigerian.
b. The average American has better nutrition and healthcare than the average Nigerian.
c. The average American has a longer life expectancy than the average Nigerian.
d. All of the above are correct.
d
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The selection of particular products’ production processes
A. determines the output of other products made with those inputs at the same time. B. is part of the distribution problem in an economy. C. is accomplished without regard to profit in a laissez-faire economy. D. depends upon plans for distribution of the products.
Economists at which administrative department analyze data on workers and those looking for work to help formulate labor-market policies?
The majority of Americans, when asked how many states they could name, think they could name all fifty. However, when they are asked to do so, very few are able to come up with all fifty. This is an example of which systematic mistake that people make?
Suppose consumption decreases at each price level. As a result, aggregate demand __________, and the AD curve shifts __________
A) increases; leftward B) decreases; leftward C) increases; rightward D) decreases; rightward