According to the World Bank, ________ people are classified as being in severe poverty.
A. 2.5 billion
B. 500,000 million
C. 100,000 million
D. 800 million
Answer: D
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The above figure shows the production possibility frontier for a country. Suppose the country is producing at point E. What would be the opportunity cost to increase the production of wine to 9 thousand bottles?
A) 12 tons of rice B) 15 thousand bottles of wine C) 9 thousand bottles of wine D) 3 tons of rice E) Nothing, it is a free lunch.
Which of the following contributed to the downfall of the Soviet Union in 1991?
A) the lack of a strong dictator who could coordinate economic activities B) an overabundance of high-quality goods and services C) an inability to produce low-cost consumer goods that households wanted D) government dissatisfaction with high living standards and political freedom
Since 1940 the percentage of elementary and secondary educational expenditures financed by local governments _____
a. declined by around 10 percentage points b. increased by around 10 percentage points c. increased by around 5 percentage points d. declined by around 15 percentage points
Imagine you own a machine that produces perfectly authentic and legal $100 bills. You would use this machine until:
a. the bills became worthless. b. the total cost began to fall. c. the marginal cost was $100. d. the variable cost began to rise. e. the marginal revenue began to fall.