In order to increase productivity and economic growth, poor nations need
A. A large military.
B. Increased consumption.
C. A strong dictator.
D. Increased capital investment.
Answer: D
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $95 each, then at her profit-maximizing level of output, Sarah will earn a ________ of ________ per day.
A. loss; $100 B. profit; $15 C. loss; $15 D. profit; $285
The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Canadian dollar and the Euro ________ against the U.S. dollar
A) appreciated, depreciated B) appreciated, appreciated C) depreciated, appreciated D) depreciated, depreciated
The argument that developing countries with lax environmental standards will attract foreign manufacturers who want to escape stricter standards in their own countries is known as
A) the pollution havens hypothesis. B) the escape clause hypothesis. C) the earth destruction hypothesis. D) the environmentally destructive hypothesis.
What do the income effect, the substitution effect, and diminishing marginal utility have in common?
A. All are required to explain the utility-maximizing position of a consumer. B. They are all empirically measurable. C. They all help explain the upsloping supply curve. D. They all help explain the downsloping demand curve.