In general, countries with lower rates of growth of labor productivity have
a. lower levels of productivity.
b. higher levels of productivity.
c. lower levels of educational attainment.
d. higher levels of natural resource endowments.
b
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Relative poverty refers to
A) how a family's income compares to the incomes of those around them. B) poverty levels at a stated income cutoff. C) the number of poor in one state relative to another. D) none of the above.
The Loma Linda City Council made it official in June 2008, passing the most restrictive smoking ordinance yet in the Inland area. Dr. Linda Ferry, who counsels veterans on quitting smoking at Jerry L
Pettis Memorial VA Medical Center, said that the smoking ordinance would protect children from exposure to secondhand smoke and discourage teenagers and adults from taking up smoking. What is TRUE about this situation? A) Marginal external costs are negative. B) Marginal external benefits are positive. C) Marginal external costs are positive. D) Marginal external benefits are negative.
If a price ceiling were established above the equilibrium price,
A) it would have no effect on the quantity demanded. B) it would create a shortage. C) it would create a surplus. D) none of the above.