In a growing economy, it is possible to eliminate
A) absolute poverty.
B) relative poverty.
C) both absolute and relative poverty.
D) either absolute nor relative poverty.
Answer: A
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Amy can study for an hour or spend that hour sleeping or going out for dinner. If she decides to study for the hour, the opportunity cost of the hour spent studying is
A) sleeping or going out for dinner, whichever she would have preferred the most. B) definitely going to slee
If you must determine the long-run equilibrium output of a perfectly competitive firm and you are permitted to see only one curve, which of the following curves is most helpful?
A. Demand B. Marginal cost C. Average cost D. Average fixed cost
The private market:
a. tends to overproduce public goods because they are nonrivlarous b. can produce public goods more efficiently than the government can c. earns excessive profit on public goods
An In the News article titled "Eliminating the Competition with Low Prices" indicates that, in order to protect their prices and profits, the major carriers operating at the Washington, DC, Dulles airport
A. Acquired smaller carriers. B. Practiced predatory pricing. C. Permanently reduced their prices. D. Used patents.