The official dividing line between the poor and nonpoor is called the
A. life threshold.
B. life edge.
C. poverty line.
D. beginning line.
Answer: C
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A decrease in the long-run average total cost as output increases is due to
A. a declining average fixed cost. B. externalities. C. the law of diminishing returns. D. economies of scale.
It is possible for an economy to keep its currency overvalued against the dollar if:
A) it sells the domestic currency in the foreign exchange market. B) it has substantial domestic currency reserves. C) it buys the dollar in the foreign exchange market. D) it has substantial dollar reserves.
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they require a co-payment
According to the simple circular flow concept, whenever planned investment is greater than planned saving during a period of less than full employment, there is a tendency for
a. total output to remain stable. b. prices to rise. c. employment to increase. d. inventories to accumulate.