Emerging nations refer to
A. countries that have per capita real GDP (Gross Domestic Product) levels beyond those of advanced nations.
B. developing countries that has experienced high economic growth so that they are closer to advanced-nation status.
C. developing countries that has never experienced economic growth despite their potential.
D. developed countries that have continued to experience high economic growth.
Answer: B
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A negative externality exists when
A. a person's or group's actions cause a benefit that is felt by others. B. a person's or group's actions cause a cost that is felt by others. C. market output is less than socially optimal output. D. a and c E. b and c
Behavioral economics is an approach to the study of consumer behavior
A) that emphasizes psychological limitations and complications that potentially interfere with rational decision making. B) that emphasizes the capabilities of individuals to succeed in attaining all their unlimited wants utilizing limited resources. C) that, in contrast to standard approaches in economics, utilizes the ceteris paribus assumption. D) that, in contrast to standard approaches in economics, relies on real-world data to evaluate the usefulness of economic models.
What is the IS relation? Explain why IS curve is downward sloping
What will be an ideal response?
One major factor contributing to rising health care costs is:
A. The increased use of expensive outpatient facilities B. Reduced insurance coverage of new medical illnesses C. Payments for medical services given to immigrants D. The lack of patients' concern regarding cost of treatments