According to the World Bank, the high-income oil-exporting nations like Libya, Saudi Arabia, Kuwait, and the United Arab Emirates:
a. are considered to be still-developing countries.
b. are the major trade partners of the U.S.
c. are considered as underdeveloped economies.
d. have highly interdependent economies.
e. are considered highly-developed countries.
a
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Which of the following results from providers having more information about treatment alternatives than their patients?
a. Principle-agent problem. b. Rational ignorance. c. Externalities. d. Adverse selection. e. The substitution effect.
Amy is thinking about going to the movies tonight. A movie ticket costs $15, and she'll have to cancel a $20 dog-sitting job that she would have been willing to do for free. The opportunity to Amy cost of going to the movies is:
A. $5. B. $20. C. $35. D. $15.
A labor supply elasticity of 0.1 means that a wage increase of 10 percent will:
A. increase the quantity of labor supplied by 10 percent. B. reduce the quantity of labor supplied by 10 percent. C. increase the quantity of labor supplied by 1 percent. D. reduce the quantity of labor supplied by 1 percent.
A normal good is one:
a. Which all people like b. For which demand increases when income increases c. For which demand increases when price decreases d. Which all normal people like