Which of the following is not evidence of the lower standard of living among less- developed countries?
a. high per capita income
b. high death rates
c. high infant mortality rate
d. low life expectancy
e. high birth rate
A
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During World War II, Hitler would often order his army to hold a particular town or river "at all costs." Was this rational? If so, explain. If not, indicate which economic idea it violated
If equilibrium is present in the foreign exchange market and a nation is experiencing a trade surplus,
a. the nation must be experiencing a net capital inflow. b. the nation must be experiencing a net capital outflow. c. the nation's inflation rate must increase. d. the nation's interest rate must increase.
Households supply factors of production to businesses and are paid by businesses for doing so. The market where this interaction takes place is called the factor market.
Answer the following statement true (T) or false (F)
The difference between scarcity and a shortage is that
A) scarcity is caused by poverty and shortages are caused by natural disasters. B) shortages are a type of scarcity caused by natural disasters while scarcity is caused by human errors. C) scarcity always is a part of human life while shortages usually are temporary. D) shortages are always part of human life while scarcity is usually temporary.