Which of the following countries meets or exceeds the U.N.'s Millennium Aid Goal of 0.7 percent of donor country GDP?
A. Australia.
B. Norway.
C. The United Kingdom.
D. Japan.
Answer: B
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The majority of spending in the category of government purchases comes from
A) transfer payments. B) the federal government. C) state and local governments. D) military spending.
A kinked demand curve is perceived by the firm as being:
A. more elastic to the right of the kink B. more inelastic to the right of the kink C. more inelastic to the left of the kink D. present when there is a monopoly
Stock market crashes lead us to believe that
A) factors other than market fundamentals have an effect on asset prices. B) unexploited profit opportunities never exist. C) crashes are always predictable when market participants behave rationally. D) bubbles are a natural outcome of an efficient market.
Perfect competition occurs in a market where there are many firms each selling:
A) identical product. B) similar product. C) unique product.