Compared to IACs, LDCs are often characterized by:
a. lower adult literacy.
b. lower per capita energy consumption.
c. lower life expectancy.
d. All of the answers are correct.
d
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Explain the difference between how adaptive expectations are formed and how rational expectations are formed. How does this difference affect the speed at which economic variables are expected to change?
Under a floating exchange-rate regime, following an expansion in the money supply, the change in the value of domestic currency is most likely to
A. lower real domestic product. B. increase demand for exports. C. increase demand for imports. D. initiate foreign capital inflow.
Public education in the United States is
A) subsidized mainly by state and local governments. B) funded by the federal government only. C) paid for mostly by the parents of students. D) paid for through the Social Security program.
A competitive market is in equilibrium. Then there is an increase in demand and an increase in supply. The equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) perhaps changes but we can't say if it rises, falls, or stays the same; does not change C) falls; increases D) perhaps changes but we can't say if it rises, falls, or stays the same; increases E) falls; perhaps changes but we can't say if it increases, decreases, or stays the same