Although GDP is not the same as economic well-being, high levels of GDP are positively correlated with all of the following except:
A. higher rates of literacy.
B. higher rates of infant mortality.
C. longer life expectancies.
D. higher material standards of living.
Answer: B
You might also like to view...
If public subsidies for education were eliminated, what would you expect as an outcome in the market for educational services?
A. The quality of education would deteriorate. B. The price students pay to attend school would equal the value of an additional unit of education consumed. C. More students would enroll in school. D. There would be no correlation between the price students pay and the cost of providing the educational services.
Explain the difference between a regressive tax and a progressive tax
What will be an ideal response?
If another worker is hired with a marginal product greater than the previously hired worker, which of the following will be true?
A) Total costs will decrease. B) Fixed costs will decrease. C) Marginal cost will increase. D) Marginal cost will decrease. E) Average fixed costs will increase.
In the long run, a profit-maximizing monopolistically competitive firm sells at a price that is:
A. equal to average total cost, but higher than marginal cost. B. equal to marginal cost and marginal revenue. C. equal to average total cost, but lower than marginal cost. D. equal to demand, but higher than average total cost and marginal cost.