The "brain drain" problem in the DVCs refers to the fact the best-educated workers:
A. are reluctant to become entrepreneurs.
B. are concentrated in rural areas where their skills are underutilized.
C. often immigrate to industrialized countries.
D. are reluctant to work in the public sector.
C. often immigrate to industrialized countries.
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Productive efficiency refers to
A. setting TR = TC. B. maximizing profits by producing where MR = MC. C. cost minimization, where P = minimum ATC. D. production at a level where P = MC.
According to the graph shown, the equilibrium price is:
According to the graph shown, the equilibrium price is:
A. $5
B. $10
C. $15
D. $20
Refer to the above production possibilities curves. Curve (a) is the current curve for the economy. The movement from curve (a) to curve (b) suggests:
A. a movement from unemployment to full employment. B. a decline in the total output of this society. C. an improvement in consumer goods technology but not in capital goods technology. D. an improvement in capital goods technology but not in consumer goods technology.
Expansionary fiscal policy ________ the price level and ________ equilibrium real GDP
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases