The idea of convergence is that

a. Poor and rich economies will converge on middle-income status.
b. Capitalist and Socialist systems will become more alike.
c. Poor countries will grow faster than rich ones, but may level off before becoming rich.
d. Agricultural technologies will come to resemble industrial technologies.
e. None of the above.

C

Economics

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Suppose scientists discover that eating soybeans prevents cancer and heart disease. Other things constant,

A) demand for soybeans will increase and soybean prices will fall. B) the price of soybeans will increase and demand will fall. C) demand and prices of soybeans will increase. D) the quantity demanded of soybeans will change, but demand will remain the same.

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The process of allocating the total product among the resources involved is referred to as

a. geographic distribution. b. functional distribution. c. marketing distribution. d. frictional distribution.

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Economics

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Exhibit 30-5

?

A. marginal private cost curve; demand curve; marginal social benefit curve; market output B. demand curve; marginal social benefit curve; supply curve; market output C. marginal social benefit curve; demand curve; marginal private cost curve; socially optimal output D. demand curve; marginal social benefit curve; supply curve; socially optimal output E. marginal social benefit curve; supply curve; marginal private cost curve; market output

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Economics

Securities markets perform a valuable economic function because they provide

A. an opportunity for investors to make money in a short time. B. the principal indicator of the performance of the U.S. economy. C. an easy way to transfer corporate securities, thereby reducing risk to investors. D. assurance that stock purchasers can get back the purchase price of their stock.

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Economics