An example of economic dualism is a(n)
a. efficient modern farm sector alongside peasant agriculture
b. modern urban sector and a traditional, peasant-based rural sector
c. efficient export sector and an inefficient, protected import-competing sector
d. efficient private sector and an inefficient public sector
e. large, market-based sector and a smaller, home-based production sector
B
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Which of the following observations is not true?
A. Money is divisible. B. The value of money never remains the same. C. Money has an intrinsic value. D. Money is the most liquid form of asset.
Which of the following will discourage investment?
What will be an ideal response?
Which of the following could be considered to be a secondary effect caused by making drugs such as marijuana, cocaine, heroin and meth illegal?
a. The higher prices that result from making drugs illegal results in more property theft by users to afford the drugs. b. The usage of police and law enforcement resources to enforce drug laws leads to lower enforcement (and thus a higher amount) of other crimes. c. Without the ability to use the legal system to enforce contracts in these underground markets, violence between buyers and sellers often results when one party to a drug deal does not live up to their end of the bargain, thus the amount of violence in society increases by making drugs illegal. d. When supplying the demand for a product that has been decreed illegal by the government, the supplier has no incentive to refrain from other illegal and equally punishable behaviors, thus increasing crime by making drugs illegal. e. All of the above would be considered valid and important secondary effects of making drugs illegal.
If the total expenditures of a typical family equaled $35,000 per year in 2010 and the exact same basket of goods and services cost $40,000 in the year 2015, the family's cost of living:
A. increased by 14 percent. B. decreased by 14 percent. C. increased by 12.5 percent. D. decreased by 12.5 percent.