Which of the following is a problem associated with extreme levels of poverty?
A) High life expectancy B) High infant mortality
C) High literacy D) Low fertility
B
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Explain the following terms:
i. Compound returns ii. Principal iii. Rate of return on an investment iv. Holding period
In a perfectly contestable market in the long run, each firm
a. produces at the minimum point on its long-run average total cost curve. b. earns a profit below its opportunity cost of capital. c. avoids making capital expenditures. d. All of the above are correct.
A trough in the business cycle:
a. The natural rate of unemployment is at a minimum point b. Structural and frictional unemployment are at their highest levels c. Employment and output reach their lowest levels d. Cyclical unemployment is at a minimum point
Which of the following examples shows a price change in the most elastic range of a linear demand curve?
a. The price of CloseShave electric razors falls from $120 each to $100 each. b. The price of CloseShave electric razors falls from $100 each to $85 each. c. The price of CloseShave electric razors falls from $85 each to $80 each. d. The price of CloseShave electric razors increases from $80 each to $100 each.