An example of a poverty trap is
a. extended time periods without war
b. a lack of mineral wealth
c. a dysfunctional or corrupt government
d. laws and regulations to help detect fiscal fraud
e. None of the answers is correct
C
You might also like to view...
Assume an economy produces only footballs and baseballs and the base year is 2005. Quantity producedPrices 2005200620052006Footballs200300$20$25Baseballs500600$10$15Given the data in the table above, what is the value of real GDP in 2006?
A. $12,500 B. $10,000 C. $ 9,000 D. $12, 000
All things equal, the price elasticity of supply:
a. will be greater in the short run than in the long run. b. will be greater in the long run than in the short run. c. is the same for the short run and the long run. d. approaches zero in the long run.
Which of the following statements best describes producer surplus in the supply and demand model?
a. Producer surplus is the area in the supply and demand model that is between the market price and the portion of the supply curve below equilibrium. b. Producer surplus is the area in the supply and demand model that is between the market price and the portion of the supply curve above equilibrium. c. Producer surplus is the area in the supply and demand model that is above the market price and the portion of the supply curve below equilibrium. d. Producer surplus is the area in the supply and demand model that is below the market price and the portion of the supply curve below equilibrium.
Refer to the diagram. Which line(s) show(s) a negative relationship between x and y?
What will be an ideal response?