The vicious circle of poverty in the poorest DVCs can also be expressed as:
A. The rich get richer while the poor get poorer
B. Fate dealt the poor nations a bad hand
C. The poor nations stay poor because they are poor
D. Historical developments have oppressed the poor nations' incomes
C. The poor nations stay poor because they are poor
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Fred enjoys smoking cigars, but his wife Wilma feels ill whenever she is around cigar smoke. Use the Coase theorem to explain how this problem could be solved without government involvement
What will be an ideal response?
Which of the following functions of money would be violated if inflation were high?
A) store of value B) medium of exchange C) unit of account D) certificate of gold
According to the equation of exchange, if nominal GDP equals $6 trillion and the money supply equals $1 trillion, the velocity of money: a. must be 6
b. must be 1/6. c. must be 6 trillion. d. must be 1/6 trillion. e. cannot be determined unless we know the price level.
What country is our largest trading partner, as measured by exports and imports?
a. Japan. b. The United Kingdom. c. China. d. Canada. e. Mexico.