In the 1990s, humanitarians traveled to Sudan to:
Ans: buy slaves
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A decrease in the price of crude oil would most likely ________.
A. increase aggregate demand in the U.S. B. decrease aggregate demand in the U.S. C. decrease aggregate supply in the U.S. D. increase aggregate supply in the U.S.
Refer to the figure below. At the private market equilibrium quantity, the marginal cost of the last unit produced is ________ the social marginal benefit of the last unit produced.
A. less than B. more important than C. equal to D. greater than
Use the following table to answer the next question.YearNominal Income (dollars)CPIReal Income (dollars)1$44,600130 2$48,200 $35,1833$51,000139 What is the percentage change in real income from Year 2 to Year 3?
A. 4.3% B. 0.04% C. 5.8% D. 0.06%
Which of the following statements is true?
A) If a nation can produce more of a good than another nation can, it has a comparative advantage in the production of that good. B) Comparative advantage results from a lower opportunity cost of production. C) Absolute advantage results from having more resources. D) Absolute advantage means that an individual or country can produce more of a particular good than can any other individual or country.