The World Bank defines ________ poverty as an income of less than $1.90 per day per person.
A. extreme
B. severe
C. relentless
D. extraordinary
Answer: A
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Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, Germany is most likely to expand its PPF to
A) PPF3 or PPF2. B) PPF3. C) PPF1. D) PPF1. or PPF2. E) PPF2.
What is the Heckscher-Ohlin theorem? Using the case studies in the chapter on U.S. trade with China describe the theory and the resulting trade patterns that would support it
What will be an ideal response?
Which of the following is one of the chief reasons for the increased number of married women in the U.S. work force?
a. The marginal cost of working in the labor force has increased. b. Jobs provide greater independence and self-worth. c. The opportunity cost of household work has increased. d. The sunk cost of household appliances has risen to the point that women must work to make payments on them. e. Women spend more time in the market as a result of the increasing division of labor in household production.
Avital and Joshua each have their own business selling lemonade in front of their houses. When they each charge 25 cents per glass, their total revenues are equal. However, when they each charge 40 cents per glass, Avital's revenues are bigger than Joshua's revenues. This is because
a. Joshua faces a more inelastic demand curve b. Avital faces a more elastic demand curve c. Joshua faces a more elastic demand curve d. Avital faces a less inelastic demand curve e. there is a market failure