The general approaches to global poverty reduction include all of the following except
A. Redistribution of incomes within countries.
B. Redistribution of incomes across nations.
C. An increase in government control of resources.
D. Economic growth that raises average incomes.
Answer: C
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Which of the following is not a reason to be cautious about using GDP as an indicator of development?
a. Developing countries may not have many statisticians. b. GDP includes the value of harmful products. c. Many goods and services are exchanged for others and are not recorded as having a specific value. d. Traditional methods of comparing countries' GDP data have numerous statistical weaknesses. e. All of the above are reasons for caution.
Explain how a market demand curve is constructed.
What will be an ideal response?
Well-being can be increased by:
A. increasing the availability of accurate information. B. technologies that help people share more and better information. C. policies that help people do business more efficiently. D. All of these are true.
If a perfectly competitive firm manufacturing chairs decides to produce 100 more chairs, what happens to the market price of a chair?
What will be an ideal response?