The poorest regions in the world, as measured by GDP per capita, are:
A. Latin America and the Caribbean.
B. the Middle East and North Africa.
C. Sub-Saharan Africa and South Asia.
D. Australia and New Zealand.
Answer: C
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In the presence of a negative externality
a. the market solution is efficient, but the market price is too high b. the market price is efficient, but the corresponding quantity is inefficient c. the market solution results in too little output being produced d. the efficient outcome is determined where the marginal social cost and market demand curves intersect e. the efficient outcome is determined where the marginal cost and market supply curves intersect
The mathematics of amortization for mortgage loans must utilize the
A. period of time over which the debt will be repaid. B. payment amount. C. interest rate. D. all of the options are correct.
What is the most appropriate test to evaluate whether a government-spending program will improve living standards and lead to higher income levels?
A) The value of the output generated by the government-spending program compared to its opportunity cost B) The total number of jobs created by the program C) The reduction in the rate of unemployment as the result of the spending on the program D) The taxes necessary to finance the program compared to the revenues generated by the additional employment created by the program
Perfect competition and monopoly stand at ______ of the spectrum of competition.
A. the low end B. the mid-way point C. the high end D. opposite ends