Which of the following countries would have the most difficulty raising its level of average educational attainment?
a. Canada
b. Italy
c. India
d. Sudan
a
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Of the following OECD countries, which has the lowest infant mortality rate?
A) the United Kingdom B) Japan C) Canada D) the United States
If the elasticity of supply is 4, a 10 percent increase in the price of a good leads to a
A) 40 percent increase in the quantity of supply. B) 4 percent decrease in the quantity demanded. C) 2.5 percent increase in the quantity supplied. D) 2.5 percent decrease in the quantity demanded.
The quality of a product
A) is usually unknown to the seller and the buyer. B) leads to adverse selection. C) creates noise in a market. D) is a hidden characteristic.
Changes in demand have a large effect on the price of gold because the:
A. supply of gold is relatively inelastic. B. demand for gold is relatively inelastic. C. supply of gold is relatively elastic. D. demand for gold is relatively elastic.