The concept of relative poverty
A. leads to the concept of inequality.
B. replaces the need for concepts of absolute poverty.
C. is measured relative to the poverty line.
D. is only relevant in low income countries.
Answer: A
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The ________ specializes in making long-term loans for capital investment projects that do not have private financial support
A) International Monetary Fund B) Federal Reserve Bank C) World Bank D) European Central Bank
Oliver just brought home a new kitten. We could expect Oliver's demand for:
A. dog toys, a substitute good, to decrease. B. cat toys, a complementary good, to decrease. C. cat toys, a complementary good, to increase. D. dog toys, a substitute good, to increase.
The price of any factor of production in a competitive market depends on the value of the final product it is used to produce.
Answer the following statement true (T) or false (F)
The use of money adds to wealth because it tends to increase people's
A) options. B) risks. C) costs. D) expenditures. E) elasticity of demand.