The invention of the Internet should make poorer countries
A. poorer due to the expense of new technology.
B. poorer because the Internet is primarily in richer countries.
C. richer because technology adoption is easier.
D. richer because they can distribute information without costs.
Answer: C
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When there are many goods is that in a barter system
A) transactions costs are minimized. B) there exists a multiple number of prices for each good. C) there is only one store of value. D) exchange of services is impossible.
Suppose two countries have per capita real GDP of $20,000 in 2012. Country A has a growth rate of 4 percent and Country B has a growth rate of 5 percent. By 2015, the per capita real GDPs for the two countries, respectively, are (rounded)
A) $21,630 and $22,050. B) $22,400 and $23,000. C) $22,500 and $23,150. D) $25,000 and $26,500.
When political officials have substantial discretionary power to override the rule of law,
What will be an ideal response?
During spring break, students have an elasticity of demand for a trip to Florida of ?3. How much should an airline charge students for a ticket if the price it charges the general public is $360? Assume the general public has an elasticity of ?2.
A. $260 B. $250 C. $270 D. $240