Which of the following factors are repeated in many different definitions of globalization?
A) creation of a smaller world
B) movement toward a world economy
C) people living across the world from one another having a greater impact upon each other
D) all of the above
D
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The Williams' household uses natural gas heat, the Reynolds' use a wood stove. Whose household heating system is most efficient?
A) Without more information, the question is meaningless. B) Williams' C) Reynolds' D) It depends only on the BTU's (the amount of heat produced) per unit of heat-source input.
Refer to Figures d and e. Water is crucial for survival, but it is particularly valuable during a drought when water is scarce. The probability of a drought is (1 - P), WD represents the quantity of water in a drought, while WR represents the quantity of water in a rainy season. Which set of indifference curves above best represent a relatively high probability of a drought?
A. Figure d
B. Figure e
C. Probabilities do not influence indifference curves.
D. Both Figures represent a relatively low probability of a drought.
To boost economic growth the government is most likely to:
A. increase interest rate B. increase taxation rate C. provide incentives to invest D. provide incentives to save
Which of the following individuals would be most negatively affected by anticipated inflation?
A) a retired railroad engineer who receives a fixed income payment every month B) a union contractor whose pay is adjusted based on changes in the CPI C) a full-time employee at a pizza parlor who makes more than the minimum wage D) a student who borrows $10,000 at a nominal interest rate of 5% to finance educational expenses