What are the crucial factors that contribute to famine?
What will be an ideal response?
Famine should be explained as a combination of political factors and inability to transport food to stricken areas. General underdevelopment and drought are not sufficient if markets are integrated and allowed to function.
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The table above gives the values of different expenditures in the United States during 1999. Answer the following questions about the United States
a. What was the value of net exports of goods and services in 1999? b. What was (nominal) GDP equal to in 1999? c. What was the (nominal) value of total production equal to in 1999?
The theory of the firm is based on the following two key assumptions:
a) Firms seek to maximize profits, and the firm is a single, consistent decision-making unit. b) Firms seek to become as large as possible, and they seek to maximize total revenue. c) Firms seek to maximize revenues, and to maximize undistributed profits. d) Each firm has a highly diversified product, and this leads to profit maximization. e) Firms seek to maximize profit, and to distribute the maximum value in dividends.
The government budget deficit tends to decline during the expansion phase of a business cycle because tax revenues ________ and government transfer payments ________.
A) increase; increase B) decrease; decrease C) decrease; increase D) increase; decrease
Technology is a demand shifter.
a. true b. false