According to the World Bank, roughly 800 million people are classified as being in ________ poverty.
A. severe
B. extreme
C. tremendous
D. subsistence
Answer: B
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In Figure 11.1, an increase in consumer wealth is represented by a change in the consumption function from
A) C1 to C3. B) C3 to C1. C) C2 to C1. D) C1 to C2.
The value at which one currency can be exchanged for another currency is called the real exchange rate
Indicate whether the statement is true or false
The MP curve may be used to represent ________
A) movements of the real interest rate as a direct policy action of the Federal Reserve B) movements of the real interest rate that are independent of direct Federal Reserve action C) how the real interest rate is related to the inflation rate D) all of the above E) none of the above
If demand in a perfectly competitive market decreases, supply will:
A. not change in the short run. B. increase in the long run. C. increase in the short run. D. decrease in the short run.