In order to promote growth, the poorest countries-in contrast to the middle-level and rich countries-need most to:
A. increase their capital stock.
B. invest in human capital.
C. improve their infrastructure.
D. improve their legal and political environments.
Answer: D
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Which of the following statements is false?
A) The difference between average total cost and average fixed cost is average variable cost. B) The marginal cost curve intersects the average variable cost curve and the average total cost curve at their minimum points. C) Firms often refer to the process of lowering average fixed cost as "spreading the overhead." D) When marginal cost equals average total cost, average total cost is at its highest value.
Which of the following resulted from the Smoot-Hawley trade bill of 1930?
a. The stock market began a steady recovery from the crash of October 1929. b. Many countries responded by imposing higher tariffs on American products, and the volume of international trade fell sharply. c. Imports decreased, while exports increased, resulting in an overall increase in GDP and tariff revenues. d. The unemployment rate, which had been rising, began to steadily decline as jobs were protected by the trade restrictions.
The Millennium Development Goals indicate that
a. extreme poverty can only be eliminated by introducing democratic norms. b. the alleviation of extreme poverty is a moral responsibility that cannot be ignored. c. foreign direct investment actually ends up increasing global poverty. d. there is little evidence that institutionalized programs reduce global poverty.
A decision to supply labor or not to supply it is also a decision to
A. earn the highest possible wage. B. demand or forgo a certain amount of leisure. C. be as productive as possible. D. join the union.