Which countries are among the highest-rated nations on the Gender Development Index?
a. Niger, Mali, Saudi Arabia, and Iran
b. Canada, the U.S., Israel, China, and Kenya
c. France, Japan, Brazil, and the U.S.
d. Norway, Iceland, Sweden, Australia, and the U.S
d. Norway, Iceland, Sweden, Australia, and the U.S
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The most basic premise of the aggregate expenditures model is that the
A. unemployment level in the economy is inversely related to the inflation rate. B. total output produced in the economy depends directly on the level of total spending. C. level of employment in the economy depends inversely on the real wage rate. D. total output produced depends mostly on the total capacity of firms to produce.
In 2002, President Bush enacted a 30 percent tariff on imported steel. The primary beneficiaries of this tariff were
a. U.S. steel companies and employees. b. U.S. automobile companies and employees. c. foreign steel companies. d. foreign steel workers. e. both a and b above.
A monopoly can earn positive profits because it
a. can sell unlimited quantities at any price it chooses. b. takes the market price as given and can sell unlimited quantities. c. can set the price it charges for its output but faces a horizontal demand curve. d. can maintain a price such that total revenues will exceed total costs.
Refer to the data. The price elasticity of demand is relatively inelastic:
Answer the question on the basis of the following demand schedule:
A. in the $6-$4 price range.
B. over the entire $6-$1 price range.
C. in the $3-$1 price range.
D. in the $6-$5 price range only.