What is the Alliance for a Green Revolution in Africa and who are its primary supporters?
What will be an ideal response?
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When an individual's MRP is not measurable, his or her market wage is usually determined by
A. The individual's comparable worth. B. The selling price of his or her output. C. His or her opportunity wage. D. The individual's MPP.
If the consumer price index decreased from 1.66 to 1.59, then it must be the case that ________ relative to prices in the base year.
A. some prices rose and some prices fell B. the weighted average level of prices rose C. the weighted average level of prices fell D. all prices fell
The supply curve is a ________ line that reflects the ________ relationship between price and quantity supplied.
A. upward-sloping; direct B. upward-sloping; inverse C. downward-sloping; inverse D. downward-sloping; direct
One lesson that Akerlof's Lemons model provides is:
A. that for high quality providers to survive they must provide a way that customers can distinguish high quality from low quality. B. low quality will not survive in a market. C. moral hazard is unavoidable. D. people always prefer high quality to low quality goods.