The incidence of absolute poverty is reduced by
A) annual recalculations of the poverty line.
B) government welfare programs.
C) economic growth.
D) the size of the budget deficit.
Answer: C
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The cost savings from outsourcing often lead to ________ for consumers and ________ for the outsourcing company
A) lower prices; more output B) lower prices; less output C) higher prices; more output D) higher prices; less output
Some firms practice odd pricing because
A) it is a way to price discriminate. B) it is too difficult for sellers to reeducate buyers into accepting even prices. C) it lowers transactions costs. D) they believe that customers will buy a larger quantity with an odd price.
Which of the following groups would be aided by a depreciation of the American dollar?
A. Foreign producers of goods imported by the United States. B. U.S. importers of goods from abroad. C. American producers of goods for export. D. Foreign workers.
If one country has the ability to produce all goods and services more efficiently than any other country, then:
A) there is no benefit to be derived from trading. B) there is still benefit to trading because the advantages to trade depend on comparative advantage and not on an absolute ability to produce more efficiently. C) it should not trade but should isolate itself from the less productive rest of the world. D) it must be a very large country.