Movement of the fast-growing Asian nations through the demographic transition may have had an impact on growth rates because it
A) reduced expenditures on health care.
B) reduced expenditures on pensions.
C) increased savings.
D) increased consumption relative to GDP.
E) increased the number of retired people.
C
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Price subsidies have no deadweight losses so long as the (uncompensated) demand curve is vertical.
Answer the following statement true (T) or false (F)
The industry that comes closest to perfect competition is
A. clothing. B. the airlines. C. wheat-growing. D. steel.
Ajax has just discovered that the marginal revenue product generated by the last worker hired was $125 while the marginal factor cost was $85. What should Ajax do?
A) Leave the level of production unchanged. B) Increase the amount produced. C) Reduce the amount produced. D) Collect more information before making a decision.
Isabel noted that whenever she wore her green contact lenses, the Chicago White Sox would win that evening. Based on this observation, she developed the "green-eyes-for-White-Sox" theory of winning. It is most likely true that Isabel
A. committed the fallacy of logic. B. committed the ceteris paribus error. C. showed good reasoning for the reason the White Sox would win. D. was confusing causality.