Provide a concise statement about the relationship between population growth and absolute poverty, female wages, rural-urban migration, availability of pensions, availability of healthcare, availability of education, and rate of investment
What will be an ideal response?
The question can be posed as one long essay or subdivided into separate questions. Answers are discussed in the text.
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Suppose there are two goods (X and Y). On a traditional graph of a budget line a tripling of all prices and incomes will
a. alter the slope of the budget line only. b. alter the slope of the budget line as well as the Y-intercept. c. alter the slope of the budget line as well as the X-intercept. d. leave the budget line unaltered.
What do you mean by the term 'equilibrium wage'? a. It is the wage that is determined when potential employers and potential employees are free to transact as they wish. b. It is a wage determined by the government with an intention to narrow the gap between the higher and the lower income groups. c. It is a wage at which the workers refuse to offer labor
d. It is a minimum possible rate that an employer must pay in order to hire a labor. e. It is a wage at which there is an excess supply of workers.
The first economist to analyze economic rent was
A) Henry George. B) David Ricardo. C) Karl Marx. D) John Stuart Mill.
If the demand for cell phone service is inelastic, then
A) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value). B) the percentage change in quantity demanded is equal to the percentage change in price. C) the quantity demanded does not change in response to changes in price. D) the percentage change in quantity demanded is less than the percentage change in price (in absolute value).