What is the basic problem of developing countries?
A) corruption
B) murder
C) poverty
D) stock market
E) natural resources
C
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Which one of the following resources is not underemployed?
A. The use of Manhattan Island in New York City for growing corn. B. The use of farmland in the Iowa and Illinois corn belt for buildings to do stock market research. C. An automobile factory that is shut down for two months to be retooled for a model change. D. Limiting all men to the fields of school teaching and social work.
Which of the following statements about banks is correct?
a. Regulation requires that banks maintain a minimum amount of assets. b. Regulation requires that banks maintain a minimum amount of net worth. c. Regulation requires that banks maintain a minimum amount of liabilities. d. Regulation requires that banks maintain a minimum amount of insurance.
If we compare the Baby Boom generation of workers to the number of workers who came before and will come after them, we realize that, all other things equal, the Baby Boomer's labor:
A. demand will be relatively lower at any wage. B. demand will be relatively greater at any wage. C. supply will be relatively lower at any wage. D. supply will be relatively greater at any wage.
Which of the following is true?
a. Human choice is generally not influenced by changes in incentives. b. What is true for the individual must be true for the group as a whole. c. Using scarce resources to meet one need reduces our ability to meet needs in other areas. d. The economic way of thinking stresses that good intentions usually lead to sound economic policy.