Refer to the scenario above. Which country is likely to have lowest life expectancy at birth?
A) Eduland B) Techland C) Neoland D) Ritzland
C
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For each additional lamp produced, a constant opportunity cost is incurred in terms of bookshelves. This means
A) that it takes more resources to produce a lamp than a bookshelf. B) that it takes fewer resources to produce a lamp than a bookshelf. C) that for every lamp produced, a constant number of bookshelves is forfeited. D) that for every lamp produced, a different number of bookshelves is forfeited.
All of the following are ways to control currency convertibility EXCEPT
A) import licenses B) multiple exchange rates C) import deposits D) purchasing power parity
When an economy's overall production grows faster than its population, it is referred to as:
A) long-run growth per capita. B) an increase in nominal GDP. C) deflation. D) the paradox of thrift.
When you set aside the money you have today in order to purchase goods and services later on, you are using money as a
A. medium of exchange. B. unit of accounting. C. standard of deferred payment. D. store of value.