The very poorest LDCs have relatively
A. low rates of economic growth and relatively high rates of population growth.
B. high rates of economic growth and relatively low rates of population growth.
C. low rates of both population growth and economic growth.
D. high rates of both population growth and economic growth.
A. low rates of economic growth and relatively high rates of population growth.
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Assuming we are considering a normal good, the calculated price elasticity of demand is:
A) always positive. B) always negative. C) positive if demand is elastic and negative if demand is inelastic. D) positive if demand is inelastic and negative if demand is elastic.
How much is the percentage of income earned by the highest quintile on Lorenz curve Q?
The lure of _______ directs resources toward capital investments.
A. future profits B. current consumption C. high interest rates D. future interest rates
Exhibit 3-2 Demand curves
In Exhibit 3-2, the shift in the demand curve from D1 to D2 could have been caused by which of the following?
A. Decrease in price. B. Increase in expected future prices. C. Increase in the price of a complement. D. Decrease in income if it is a normal good.