The populations of the developing nations are growing:
A. at about 5 percent per year.
B. at about the same rate as those of the industrially advanced nations.
C. slower than those of the industrially advanced nations.
D. faster than those of the industrially advanced nations.
D. faster than those of the industrially advanced nations.
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Ingrid has been waiting for the show "Mamma Mia!" to come to town. When it finally does come, tickets cost $60. Ingrid's reservation price is $75. But when Ingrid tries to buy a ticket, they are sold out. Ingrid decides to try to buy a ticket from a scalper (a person who purchased extra tickets at the box office with the intent to resell them at a higher price). If Ingrid finds someone who is willing to sell her a ticket for $70, she should:
A. purchase the ticket even though doing reduce total economic surplus. B. not purchase the ticket because it is overpriced. C. not purchase the ticket because the cost to the scalper was only $60. D. purchase the ticket because doing so will make her $5 better off.
Most developing countries rely on foreign financing because:
a. ?these countries do not generate enough savings to fund investments. b. ?foreign financing is more reliable than domestic investments. c. ?investors do not recognize their potential gains. d. ?foreign countries are more than willing to invest in developing countries. e. ?their governments are unstable and run on deficits.
In 1973, mainstream sources predicted that the world would run out of oil in
A) 20 years. B) 40 years. C) 100 years. D) Mainstream sources in 1973 predicted the world would never run out of oil.
Which of the following is an example of an adverse supply shock?
A) OPEC cuts oil production B) a large oil spill in the Gulf of Mexico C) a devastating hurricane off the Louisiana coast D) all of the above E) none of the above