Related to the Economics in Practice on page 36: In the survey conducted by Esther Duflo and Abhijit Banerjee, the extremely poor were found to consume ________ of their budgets on food compared to people in the United States.
A. a slightly lower percentage
B. approximately 50 percent less
C. about the same percentage
D. a significantly higher percentage
Answer: D
You might also like to view...
In recent years unemployment rates in several European countries have been higher than unemployment rates in the United States. Many economists believe that European unemployment rates have been higher because
A) European firms hire many seasonal workers from other countries, and this tends to inflate unemployment rates in their countries. B) of the different methods used to measure unemployment. If similar methods were used, unemployment rates in Europe and the United States would be about the same. C) the size of the military is much larger in the United States and all military personnel are classified as employed. D) unemployment benefits are more generous in Europe than in the United States.
How does an economy represented by a straight-line production possibilities curve differ from one represented by a traditional production possibilities curve with a bowed shape?
A) In the economy represented by a straight-line production possibilities curve, there is no opportunity cost. B) In the economy represented by a straight-line production possibilities curve, neither good is scarce. C) In the economy represented by a straight-line production possibilities curve, the law of increasing relative cost does not apply. D) In the economy represented by a straight-line production possibilities curve, changing the amount of resources devoted to the production of each good will not alter the amount of each good actually produced.
Your school offers college seniors one "free" college course. Is this course also free to society?
A. Yes, because the seniors live in society. B. Yes, because the school has satisfied the assumption of making a rational choice. C. No, because if a college-senior takes the last seat in the class, t then a paying student will not have the opportunity to take it. D. No, because some students will not take a free class seriously and will ultimately become less productive workers.
Refer to the accompanying table. Based on their comparative advantages, Pat should specialize in ________, and Corey should specialize in ________. Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. neither making pizza nor delivering pizza; both making pizza and delivering pizza B. delivering pizza; making pizza C. both making pizza and delivering pizza; neither making pizza nor delivering pizza D. making pizza; delivering pizza