According to the World Bank definitions, there are more people in the world living in extreme poverty than there are living in severe poverty.
Answer the following statement true (T) or false (F)
False
There must be at least as many people living in sever poverty as extreme poverty.
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A country produces only apples and bananas. Moving from point A to point B along its production possibilities frontier, 5 apples are forgone and 4 bananas are gained. What is the opportunity cost of a banana?
A) 1 banana B) 5/4 of an apple C) 4 apples D) 4/5 of an apple E) None of the above answers is correct.
The table above shows the production possibilities for an economy
Drawing a PPF with books on the vertical axis and bread on the horizontal axis, a movement from possibility B to possibility C to possibility D shows the opportunity cost of ________ moving down along the PPF. A) books decreasing B) bread decreasing C) bread increases D) books is constant E) books and bread are both increasing
The U.S. personal saving rate ________
A) is much higher than the percentage the Chinese citizens save B) is higher than the saving rate of most countries C) cannot fall below zero D) increased by a factor of five every year since the 1970s E) none of the above
Suppose the separation rate is 3% and the finding rate is 24%
a. What is the natural rate of unemployment? b. If the separation rate remains at 3% and finding rate doubles, what is the new natural rate of unemployment? c. If the separation rate is cut in half and the finding rate remains at 24%, what is the new natural rate of unemployment? d. Which has more impact: a doubling of the finding rate or a halving of the separation rate?