Why have China and India received so much international attention and investment?
What will be an ideal response?
The potential future market size in China and India is huge, even if only a small percentage of people make it into the middle class.
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Lindsey's auto-insurance company issued her a policy that required the installation of a devise that monitors her driving habits. Lindsey is confused because she had never gotten into an accident before she bought the insurance. The insurance company is protecting itself against
a. Adverse selection b. Moral hazard c. Bad drivers d. None of the above
If the price level does not fall or only falls very slowly, then the result will be a prolonged period of
a. inflation whenever supply increases. b. production below potential GDP. c. production above potential GDP. d. rapid price increases when demand changes.
A prisoner's dilemma exists for global pollutants because:
a. countries do not face the full cost of pollution that they generate. b. countries that regulate pollution gain more than countries that do not regulate pollution. c. countries that regulate pollution lose more than countries that do not regulate pollution. d. no country follows international agreements to limit pollution.
“Under competition, workers are paid what they are worth.” Explain and evaluate this statement. Does it follow that the resulting distribution of wage incomes is desirable?
What will be an ideal response?