Many people assume that if child workers in developing countries weren't working in factories, they would be in school. In fact, children in developing countries
A) split their time evenly between work and school.
B) usually have few good alternatives to work.
C) are only allowed to work if they have attended school up to age 15.
D) who work are relatively rare, as most do attend school full time.
Ans: B) usually have few good alternatives to work.
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Refer to Figure 3-2. A decrease in the expected future price of the product would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
National saving minus private saving is equal to
A) the government surplus. B) private disposable income. C) the current account deficit. D) interest on the government debt.
Which term refers to the share of an activity's marginal cost that is paid for by the persons who carry out the activity?
a. Beneficial cost b. Incidental cost c. Marginal private cost d. Marginal social cost
The removal in 1966 of the requirement that Catholics eat fish on Fridays was followed by a 12.5 percent fall in prices of fresh fish. From this it can be deduced that the
a. demand curve for fish shifted to the left. b. demand curve shifted to the right. c. supply curve shifted to the left. d. supply curve shifted to the right.