Comparing the cases of Brazil and Kerala, how would you characterize their different approaches to achieving economic development?
What will be an ideal response?
The main issue here is growth versus distribution. Broadly speaking, Brazil has targeted rapid growth at the expense of a highly unequal distribution of income, while Kerala has targeted poverty and basic needs, at the expense of growth.
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Economics
a. is a narrowly focused discipline. b. is a broad-ranging discipline. c. concerns itself only with the U.S. economy. d. says little about "everyday life." e. deals with minor problems.
Other things held constant, the lower the price of a good
A. the higher the supply. B. the lower the producer surplus. C. the greater the producer surplus. D. the lower the supply.
Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry A is:
A. 1,800. B. 2,500. C. 3,200. D. 2,800.