Income per person in the United States is approximately ____ that of Sierra Leone, Malawi, and Niger, three of the world's poorest countries
a. the same as
b. double
c. ten times
d. fifty times
D
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When real GDP is greater than potential GDP, there is ________ which leads the inflation rate to ________
A) a recessionary gap; rise B) a recessionary gap; remain stable C) an inflationary gap; rise D) a recessionary gap; fall E) an inflationary gap; fall
Critics of government-run employment agencies and public training programs argue that the private market is better at matching workers and jobs than the government is
a. True b. False Indicate whether the statement is true or false
Exhibit 6-1 Business cycle
In Exhibit 6-1, the recession phase of the business cycle can be represented by point(s):
A. CDE. B. BCD. C. EFG. D. A and E.
In contrast to the law of supply, sometimes ______ can reduce the quantity supplied.
A. price negotiations B. an increased price C. a market supply curve D. a market demand curve