In developing countries, the highest returns are from investing in:
A. transportation systems.
B. sanitation systems.
C. education.
D. defense.
Answer: C
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If a brewery wants to raise funds to purchase a new fermenting vat, it does so in the
A) alcoholic beverages market. B) output market. C) factor market. D) product market.
A perfectly competitive firm: a. cannot choose its own price. b. can increase the price of a good in order to increase its revenue
c. can decrease the price of a good in order to increase its share in the market. d. cannot choose to produce the quantity it wants.
Between 2006 and 2008 the poverty rate
A. rose by about one percent. B. fell by about one percent. C. rose by around three percent. D. fell by about three percent.
If labor supply of unskilled workers is perfectly inelastic, then
A. the labor supply curve of unskilled workers is vertical at the total number of unskilled workers in the market. B. firms face an increasing marginal cost of hiring unskilled labor. C. firms face a horizontal value of marginal product of employment curve. D. workers will supply more hours of labor to the market when wages increase. E. the labor supply curve of unskilled workers is horizontal at the market-clearing wage.