The gap between rich and poor countries
A. has decreased over time because poor countries can more easily devote resources to capital production.
B. has increased over time because poor countries find it difficult to devote resources to capital production.
C. has remained constant over time because the rate of capital production has remained constant in rich and poor nations.
D. has remained constant over time because technological advances can be easily shared among nations.
Answer: B
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If a company plots its total profit curve, it would show
A. that the curve has a negative slope over the entire range of output. B. that the slope of the curve is negative, then zero and then becomes positive as output increases. C. that the slope of the curve is positive, then zero and then becomes negative as output increases. D. that slope is a constant at a value of one.
The largest item on the liability side of the Federal Reserve's balance sheet is
A) commercial bank deposits. B) U.S. government securities. C) cash items in the process of collection. D) Federal Reserve notes outstanding.
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. What is the marginal benefit of the 4th hour spent on repairs?
A. $450
B. $375
C. $295
D. $920
A perfectly elastic demand curve has a slope of ________ while a perfectly inelastic demand curve has a slope of ________.
A. 0; infinity B. 1; 0 C. 0; 1 D. infinity; 0