On an average, growth in per capita income is associated with a:
A) fall in inequality. B) fall in poverty. C) rise in poverty. D) rise in inequality.
B
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The employment-to-population ratio equals
A) (labor force)/(working-age population) × 100. B) (number of people employed)/(labor force) × 100. C) (number of people with full-time jobs)/(labor force) × 100. D) (number of people employed)/(working-age population) × 100.
Suppose an American worker can make 100 chairs or catch 1,000 fish per day. A Chilean worker, on the other hand, can produce 40 chairs or catch 400 fish per day. Which of the following statements is true?
A. The United States has the comparative advantage in chair production. B. Chile has the comparative advantage in chair production. C. Both the United States and Chile have a comparative advantage in chair production. D. Neither the United States nor Chile has a comparative advantage in chair production.
The Sherman Antitrust Act:
A. was passed in 1800. B. was actively used by President Roosevelt in the early 20th century. C. no longer applies to business practices today. D. All of these statements are true.
Which patent would last the longest?
A. one for a drug that treats a life-threatening disease B. one for a drug that treats a very rare disease C. one for a drug that has many similar ones in existence D. one for a drug that treats a very common disease