The keys to Botswana's rate of economic growth are not shared by the other countries in the region. The most important contributing factor to Botswana's recent growth is
A. discovery of oil reserves
B. massive government investment in heavy industries and infrastructure of the country
C. government policies that protect private property rights, freedom of press and democracy, and avoid political instability and corruption
D. government policies that promote export to the developed countries
Answer: C. government policies that protect private property rights, freedom of press and democracy, and avoid political instability and corruption
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What happens to the equilibrium price and quantity of automobile tires if rubber prices increase and the price of automobiles falls?
A) The equilibrium price rises, but the change in equilibrium quantity is unknown. B) The equilibrium price and quantity decrease. C) The equilibrium price falls, but the change in equilibrium quantity is unknown. D) The equilibrium price and quantity increase. E) The equilibrium quantity decreases, but the change in equilibrium price is unknown.
Discrimination that occurs when people's preferences cause them to discriminate against a certain group is referred to as:
A) group discrimination. B) special interest group discrimination. C) cultural discrimination. D) taste-based discrimination.
Does Mr. McConaughey's marginal utility from spending time with family and friends and from breaking a sweat obey the principle of diminishing marginal utility?
A) No, neither obeys the principle of diminishing marginal utility. B) Only breaking a sweat obeys the principle of diminishing marginal utility. C) Yes, they both obey the principle of diminishing marginal utility. D) Only spending time with friends and family obeys the principle of diminishing marginal utility.
In the United States at the end of 2012, the total money supply, M1, amounted to approximately
A) 16 percent of that year's GNP. B) 20 percent of that year's GNP. C) 30 percent of that year's GNP. D) 40 percent of that year's GNP. E) 50 percent of that year's GNP.