A reasonable estimate of the world's population that lives on less than $2 per day is
A. 80 percent.
B. 10 percent.
C. 40 percent.
D. 50 percent.
Answer: B
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The price elasticity of demand is typically expressed as a positive number because:
A. the demand curve has a positive slope. B. both the numerator and the denominator are negative, so the formula yields a positive number. C. price and quantity move in the same direction. D. it's convenient to use absolute values.
Distinguish between monetary policy instruments and goals
What will be an ideal response?
Define the aggregate production function. Discuss why the aggregate production function exhibits diminishing returns
What will be an ideal response?
Banks in the U.S
A) are prevented from holding assets that are "too risky." B) are not prevented from holding assets that are "too risky." C) are encouraged not to hold assets that are "too risky." D) are not encouraged not to hold assets that are "too risky." E) are encouraged to lend to a single private customer.