The problem of political instability has been greatest in which continent?
A. South America
B. Europe
C. Asia
D. Africa
Answer: D
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If immigration increases the productivity of domestic workers, then it:
A. Decreases the return on capital B. Means that immigrant workers and domestic workers are substitutes C. Means that immigrant workers are entering low-wage occupations D. Increases the return on capital
In an optimal two-part tariff pricing schedule, consumer surplus is zero
Indicate whether the statement is true or false
When the government's spending is less than tax revenue, it implies that:
a. the government budget is balanced. b. the government is running a deficit. c. there is a budget surplus. d. there is a higher chance of default by the government. e. the government needs to borrow from the central bank.
The price elasticity of demand for a popular sporting event is -2. If the price of a ticket to this event increases by 10%, the quantity of tickets demanded will decrease by
A. 20%. B. 0.2%. C. 5%. D. 10%.