In South Asia and Sub-Saharan Africa, about what share of the labor force works in agriculture?
(a) One tenth.
(b) One third.
(c) One half.
(d) Two thirds.
D
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Refer to Scenario 1-3. Had the firm not produced and sold the last 400 t-shirts, would its profit be higher or lower, and if so by how much?
A) Its profit would be $800 higher. B) Its profit would be $4,000 lower. C) Its profit would be $4,800 higher. D) Its profit would be $800 lower.
Economic efficiency is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of production, and in which
A) the sum of the benefits to firms is equal to the sum of the benefits to consumers. B) the sum of consumer surplus and producer surplus is minimized. C) economic surplus is minimized. D) the sum of consumer surplus and producer surplus is at a maximum.
The variation in the rate of return one can expect from ownership of stocks will generally be smaller
A) if a diverse set of stocks is held over a lengthy period of time, such as 30 or 40 years. B) if all of the funds are invested in a specific sector of the economy such as health care. C) if all of the funds are invested in a single stock. D) if the funds are invested for a relatively short period of time.
Which of the following statements, ceteris paribus, accurately describes the impact of government spending on aggregate demand?
a. A decrease in government spending will decrease aggregate demand. b. Aggregate demand rises with falling government spending. c. Aggregate demand falls with stable government spending. d. A decrease in government spending will stabilize aggregate demand.