Which country has a surprising life expectancy, and why?
a. Japan has the highest life expectancy even though it ranks only fourth in real GDP per capita.
b. Nigeria has an unexpectedly high life expectancy for a country with a low real GDP
per capita.
c. Brazil has a very low life expectancy even though its real GDP per capita is in the
middle of this list.
d. The United States has a higher life expectancy than one might expect from its real
GDP per capita.
a. Japan has the highest life expectancy even though it ranks only fourth in real GDP per capita.
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Acme is a perfectly competitive firm. It has the cost schedules given in the above table and has a fixed cost of $12.00. The price of Acme's product is $14.20
What is Acme's most profitable amount of output? What is Acme's total economic profit or loss?
The optimum tariff is most likely to apply to
A) a small tariff imposed by a small country. B) a small tariff imposed by a large country. C) a large tariff imposed by a small country. D) a large tariff imposed by a large country. E) an ad valorem tariff on a small country.
The college textbooks market is an example of
A) perfect competition. B) oligopoly. C) monopoly. D) monopolistic competition.
Disparate treatment refers to:
a. the treatment of individuals on the basis of their race, sex, color, religion, or national origin. b. the treatment of individual workers on the basis of their opportunity costs. c. the treatment of individual workers on the basis of their marginal productivities. d. discriminatory treatment of the individuals due to lack of correct information. e. the discriminatory treatment of firms by the trade unions.