A society's organized way of providing for its people's needs and wants
a. command economy
b. inflation
c. capitalism
d. economic system
Ans: d. economic system
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The Shipbreakers of Alang arouse the ire of Greenpeace because of
A) India's non-repentant nuclear stance. B) India's import-competing industrialization policies. C) the difficulty of avoiding ship accidents between Greenpeace's sailboat and the reconstructed Container ships of Alang. D) the large amount of pollution associated with the operations at Alang. E) their competition with capital-intensive industries.
Profits will be maximized when the slope of the total revenue curve and the slope of the total cost curve equal zero.
Answer the following statement true (T) or false (F)
Suppose, for whatever reason, the trade deficit of the United States with Europe is projected to grow and that before this happens the exchange rate between the euro and the dollar is .75 euros/dollar. The resulting exchange rate would likely
A. cause the exchange rate to have to be expressed in dollars per euro (because the other way would no longer make sense). B. rise to (perhaps) .9 euros/dollar. C. fall to (perhaps) .6 euros/dollar. D. remain unchanged.
Which of the following characteristics is generally representative of developing counties relative to developed countries?
A. a lower infant mortality rate B. a higher rate of literacy C. lower productivity in the agricultural sector D. a larger percentage of the labor force in urban areas