Of the following high-income countries, which has the highest infant mortality rate?
A) Canada
B) Japan
C) the United Kingdom
D) the United States
Answer: D
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Which of the following is likely to shift the demand curve for engineers rightward, assuming all else equal?
A) An increase in the wage rate paid to engineers B) A decrease in the wage rate paid to engineers C) An increase in the productivity of engineers D) A decrease in the price of all products manufactured by engineers
For movements along the long-run aggregate supply curve
A) potential GDP is dependent on the price level. B) the prices of goods and services change while the prices of productive resources hold steady. C) the price level and the money wage rate change by the same percentage. D) All of the above are correct.
Most economists view capital controls:
A. favorably, since having them makes capital markets more efficient. B. favorably, since this is the main way for countries to exploit their comparative advantage. C. unfavorably. D. unfavorably, emphasizing their harmful effects on developing countries.
What happens when network externalities are present?
a. The usefulness of telecommunications equipment rises. b. The usefulness of networks diminishes with the number of consumers who enter them. c. The usefulness of a product increases with the number of consumers who use it. d. The usefulness of a product decreases as the number of products rises.