If North Korea is currently producing at efficiency, and it proceeds to increase the size of its military, then, as long as nothing else changes, its
A. Production of nonmilitary goods will increase.
B. Production possibilities curve will shift inward.
C. Production possibilities curve will shift outward.
D. Production of nonmilitary goods will decrease.
Answer: D
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If, in the market for money, the amount of money supplied exceeds the amount of money households and businesses want to hold, the interest rate will
A. fall, causing households and businesses to hold less money. B. rise, causing households and businesses to hold more money. C. fall, causing households and businesses to hold more money. D. rise, causing households and businesses to hold less money.
Discuss the distribution of income around the world. Which countries have the highest average incomes? Which countries have the lowest average incomes? How has the distribution of income changed in recent years?
What will be an ideal response?
Hard work does not necessarily lead to a high income.
A. True B. False
According to the marginal? principle, it is logical to
According to the marginal? principle, it is logical to
A.
choose a level at which marginal benefit exceeds marginal cost.
B.
increase the level of an activity as long as its marginal cost exceeds its marginal benefit.
C.
choose a level at which marginal cost exceeds marginal benefit.??
D.
increase the level of an activity as long as its marginal benefit exceeds its marginal cost.