Of the following high-income countries, which has the highest life expectancy at birth?
A) Canada B) Japan
C) the United Kingdom D) the United States
B
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Of the following, the best example of firm that might operate in a contestable market is a
A) cable TV company. B) wheat farmer. C) ship owner operating on a major waterway. D) private college operating in a state with many public colleges.
If revenue in the short run is sufficient to offset variable costs but not all fixed costs, what should the firm do?
What will be an ideal response?
Discuss the pattern of allocation of foreign aid by members of the Development Assistance Committee (DAC) to developing countries in recent years. What are the priorities of the DAC members in allocating foreign aid among recipients?
What will be an ideal response?
What major historical event led to the most significant challenge to classical economic thinking?
a. The war on poverty b. The American Revolution c. World War II d. The Great Depression e. The oil shocks of the 1970s