The U.N.'s Millennium Aid Goal is to raise foreign aid levels to ________ percent of donor country GDP.
A. 15.0
B. 0.4
C. 0.7
D. 10.0
Answer: C
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The own-price elasticity of demand for oranges at the farm level is -0.3. Suppose that an unexpected freeze occurs resulting in a 6% drop in orange production. Orange prices will
A) Rise by 6%. B) Rise by 20%. C) Fall by 20%. D) Can't tell; insufficient information
Which of the following does Dwight Lee suggest as a solution to correct excessive pollution?
a. Reduce the use of petroleum-based fuels b. Place a tax on all large trucks and SUVs. c. Expand markets & property rights into areas where externalities (i.e., pollution) exist d. This is a market failure, these is no clear solution
How did changes in world interest rates contribute to the explosion of debt in the 1970s? What happened in the early 1980s to reverse this?
What will be an ideal response?
The long run average cost curve may initially slope downward due to
A) decreasing average fixed costs. B) increasing marginal returns. C) economies of scale. D) All of the above.