What is the most important factor that explains differences in living standards across countries?
a. the quantity of money
b. the level of unemployment
c. productivity
d. equality
c
You might also like to view...
The realization that only a small portion of criminals commit the majority of crimes suggests that, as you devote more resources to the criminal justice system, the
A. marginal benefit quickly increases. B. marginal cost sharply increases. C. total cost always decreases. D. total benefit quickly decreases.
Exhibit 7-5 A firm's MR and MC curves
?
In Exhibit 7-5, a firm is currently producing 40 units of output. What would you advise this firm to do?
A. Shut down. B. Increase output. C. Decrease price. D. Decrease output.
Which of the following is a market transaction?
A. A stock increases in value over the 30 years that it is owned. B. A radio station changes its programming from classical to rock. C. Weather destroys a farmer's crops, leaving the farmer unable to buy groceries. D. A college student purchases a laptop computer.
In a city that has rent control for apartments, there is
A) less turnover of apartments. B) a surplus of apartments available to rent. C) a shortage of renters in the city. D) neither a surplus nor a shortage of apartments.