If the percentage of the population that is below the poverty line has decreased, then the number of
a. poor must have increased.
b. poor must have decreased.
c. poor may have increased.
d. people above the poverty line must have increased.
c. poor may have increased.
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Based on the table "Real and Nominal GDP," if year one is the base year, then the nominal GDP in year two, is ________
A) 8250 B) 5000 C) 7200 D) 7500 E) none of the above
Which of the following is most likely to be sold in an oligopoly market?
A) pizza B) cell phone service C) electricity D) cotton
A major reason for the increase in school attendance by children between 1999 and 2015 throughout the world was:
A. the abolishment of school fees. B. the creation of labor laws forbidding child labor. C. an increase in the minimum wages adults could earn. D. the imposition of legislation that forced children to become educated.
Which of the following is necessary for the presence of competition in a market?
a. Government regulations that assure firms will make excess profits. b. Suppliers that offer a homogeneous product. c. A price that always equals per-unit production costs. d. Low barriers to entry into the market.