Which of the following is infrastructure?
a. Training and education
b. Police
c. Highways
d. All of the answers are correct.
c
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Why do water supply problems exist in many parts of the world?
a. Efforts to build large-scale reservoirs in arid countries have stalled due to the enormous expense involved in completing these projects. b. Water markets are missing or incomplete. c. Global warming has increased the evaporation rate of water by over 10%. d. The water supply is unfit for public consumption in many areas due to pollution.
If hiring more workers results in each additional worker contributing successively smaller amounts of output, then which of the following is present?
a. diminishing profitability b. diminishing total product c. diminishing marginal product d. Both b and c are correct.
Which country has the largest real GDP?
a. china b. japan c. US d. Qatar e. liechtenstein
A graduate student is likely to consume less than a factory worker because the
A. factory worker bases consumption on permanent income while the graduate student does not. B. graduate student bases consumption on current income while the factory worker does not. C. graduate student's permanent income is likely lower than the factory worker's permanent income. D. none of the above