Countries with high real GDP tend to have ________ infant mortality rates and ________ literacy rates than countries with low real GDP.
A. lower; higher
B. higher; higher
C. higher; lower
D. lower; lower
Answer: A
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Statistical discrimination is when you take action to:
A. reveal private information about someone else. B. reveal one's own private information. C. find out the opportunity cost of acquiring more information. D. fill gaps in your information by generalizing based on observable characteristics.
The price elasticity of demand for a good is equal to the percentage change in the price of the good divided by the percentage change in its quantity demanded
a. True b. False Indicate whether the statement is true or false
For cartels, as the number of firms (members of the cartel) increases,
a. the monopoly outcome becomes more likely. b. the magnitude of the price effect decreases. c. the more concerned each seller is about its own impact on the market price. d. the easier it becomes to observe members violating their agreements.
which is not an asset of the federal reserve?
A) gold B) government bonds C) loans to banks D) Federal Reserve notes