Upward mobility for those in poverty is
A. Not likely to happen at all because most people live in a caste system.
B. More likely for people in poor nations than in rich nations.
C. More likely for people in rich nations than in poor nations.
D. Equally likely for people in rich nations and poor nations.
Answer: C
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Econville opens up trade with its neighboring countries. This causes the number of sellers of science fiction novels to increase. What happens to the equilibrium price and quantity?
a. Price and quantity both increase. b. Price decreases, and quantity increases. c. Price increases, and quantity decreases. d. Price and quantity both decrease.
Transfers of assets, such as stock sales are:
A. included in GDP because they increase domestic wealth. B. included in GDP because they raise domestic production. C. not included in GDP because they do not increase domestic wealth. D. not included in GDP because they do not increase domestic production.
According to the text, during World War II rationing was conducted in the U.S. through the use of
A) queuing. B) lotteries. C) coupons. D) sharing.
Refer to the given data. Assume that before specialization and trade, Gamma and Sigma both chose production possibility "C." Now if each specializes according to comparative advantage, the gains from specialization and trade will be:
Answer the question on the basis of the following production possibilities data for Gamma and Sigma. All data are in tons.
A. 40 tons of pots.
B. 20 tons of tea and 20 tons of pots.
C. 20 tons of tea.
D. 40 tons of tea.