Poverty is most likely to decrease when
A. Population growth exceeds economic growth.
B. GDP increases regardless of what happens to population growth.
C. Economic growth exceeds population growth.
D. Population increases regardless of what happens to economic growth.
Answer: C
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In January, buyers of gold expect that the price of gold will fall in February. What happens in the gold market in January, holding everything else constant?
A) The demand curve shifts to the right. B) The quantity demanded decreases. C) The demand curve shifts to the left. D) The quantity demanded increases.
When a country imposes an import quota, its
a. imports fall and its net exports rise. b. imports fall and its net exports are unchanged. c. imports rise and its net exports are unchanged. d. imports and exports are unchanged.
Economic growth most likely occurs when
A. the society begins to produce the combination of goods society wants most. B. a society moves along its production possibilities frontier. C. a society learns to produce more using existing resources. D. a society moves inside its production possibility frontier.
Labor is demanded by firms in an output market.
Answer the following statement true (T) or false (F)