Which of the following is the main reason why many countries with low living standards remain in that state?
a. The citizens of these countries often spend all of their resources on consumption goods instead of capital goods
b. The citizens of these countries often spend all their resources on capital goods instead of consumption goods
c. The citizens of these countries often spend all their resources on exported goods
d. Insufficient population growth
e. Lack of foreign aid
A
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If the demand curve is the same as the marginal benefit curve and the supply curve is the same as the marginal cost curve, then the quantity at which they cross is
i. the equilibrium quantity. ii. the allocatively efficient quantity. iii. the quantity with no deadweight loss. A) i, ii, and iii. B) only i. C) only ii. D) only i and ii. E) only i and iii.
Which of the following goods would be considered scarce?
a. iPods b. crude oil c. tax preparation services d. all of the above
A nation's market-risk premium is related directly to the:
a. Volatility of central bank policies due to unpredictable changes in major macroeconomic variables. b. Volatility of a company's cash flows due to predictable and quantifiable changes in major macroeconomic variables. c. Unpredictable changes in market structure, such as shifts from pure competition to oligopoly or oligopoly to monopoly. d. A company's inability to market products in a recession or period of general disruption. e. Volatility of a company's cash flows due to unpredictable changes in major macroeconomic variables.
In what sense is it likely that geography has an effect on a country's rate of economic growth?