There are a number of benefits that usually accompany economic growth. The following are such benefits EXCEPT
A. urban congestion.
B. increase in literacy.
C. increased expected life-spans.
D. political stability.
Answer: A
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Your text suggests if the price of insulin were to significantly increase, more diabetics will
A) avoid refilling their prescriptions. B) turn toward substitutes such as a better diet and exercise. C) adopt holistic healthcare, organic medicines, and other perceived substitutes. D) do all of the above. E) do none of the above.
What sequence of events results from a decrease in aggregate demand?
A. The price level rises, inventories increase, firms respond by increasing output and employment. B. The price level falls, inventories increase, firms respond by reducing output and employment. C. The price level falls, inventories decline, firms respond by increasing output and employment. D. The price level rises, inventories decline, firms respond by increasing output and employment.
If the theory behind an economic model fits the data poorly, you would probably want to
A. restate the research question. B. use the theory to predict what would happen if the economic setting or economic policies change. C. start from scratch with a new model. D. enrich the model with additional assumptions.
Data on exports and imports for the United States over the period from 1890 to 2018 show that
A. a higher percentage of U.S. goods was exported in recent years than in earlier years. B. the percentage of total output exported by U.S. firms fell dramatically during World War I and World War II. C. the United States had large trade deficits throughout this entire period. D. the United States had large trade surpluses throughout this entire period.