Modern economic growth since the 1820s has widened wealth and income disparities between richer and poorer nations.
a. true
b. false
Answer: a. true
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Suppose a basket of goods costs $400 in the United States and £200 in Britain. If the exchange rate is $1/pound, what will happen in the foreign exchange market, according to the purchasing power parity theory?
a. The market will go further out of equilibrium because of increased activity. b. An increase in demand for pounds will lead to an increase in the price of pounds. c. An increase in demand for dollars will lead to an increase in the price of dollars. d. An increase in demand for dollars will lead to a decrease in the price of dollars. e. An increase in demand for pounds will lead to a decrease in the price of pounds.
The introduction of new technologies ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. increases; decreases B. increases; increases C. decreases; decreases D. decreases; increases
A health maintenance organization that contracts with individual physicians or group practices to provide care for a specified group of enrollees is called:
a. a network-model HMO. b. a group-model HMO. c. an IPA. d. a staff-model HMO. e. a direct-contract HMO.
In the figure above, as more six-packs of soda are consumed, moving along any of the illustrated indifference curves, the MRS between twelve-packs of soda and six-packs of soda
A) increases. B) decreases. C) stays constant. D) first increases, then decreases.