Roughly 40%of the people who live in extreme poverty in the world live in
A. China and India.
B. Nigeria and China.
C. Bangladesh and El Salvador.
D. Haiti and India.
Answer: A
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Since 1942, the number of school districts in the United States has declined by almost _____ districts
a. 25,000 b. 50,000 c. 75,000 d. 100,000
Which of the following is not one of the strengths of the Cobb-Douglas production function?
A) Both marginal product and returns to scale can be estimated from it. B) It can be converted into a linear function for ease of calculation. C) It shows a production function passing through increasing returns to constant returns and then to decreasing returns. D) The sum of the exponents indicates whether returns to scale are increasing, constant or decreasing.
When a variable is top coded, its value is known only up to a certain threshold.
Answer the following statement true (T) or false (F)
Proponents of income redistribution argue that redistribution
A. will not take place absent government intervention as the market for charity, a private good, is imperfect. B. would be agreed to by all members of society if they were risk-loving and contracting from the "original position." C. increases the welfare of all members of society. D. helps those who, through no fault of their own, are unable to earn an adequate income.