Which four nations account for most of the population and economic activity in Latin America?
What will be an ideal response?
Brazil; Mexico; Colombia; Argentina
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Investment, as defined by economists, would not include which of the following? Ford
A) adds 1,000 new cars to inventories. B) builds another assembly plant in the United States. C) buys a new robotic machine (from a plant in Ohio) to assemble cars. D) buys U.S. government bonds.
The supply curve for tickets for a sporting event
A) is perfectly inelastic. B) is vertical. C) has a price elasticity of zero. D) All of the above.
At the end of the production chain that a typical economy moves up along is
a. raw material b. agriculture c. hunting and gathering d. services e. manufacturing
The economic view of the consumer as king is reflected most appropriately by the expression
a. ceteris paribus b. post hoc, ergo propter hoc c. consumer sovereignty d. ipso facto e. les miserables