Which of the following is a positive question?
A) What are the returns to education?
B) Can a monopoly ever be good for society?
C) Is there value in putting yourself in someone else's shoes?
D) Are companies like Nike exploiting workers in the developing world?
A
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Provide a definition of development economics. Justify your choice carefully
What will be an ideal response?
What is the ECB prohibited from doing in the Eurozone?
A) raising tariffs on goods from nonmember countries B) directly financing member countries fiscal deficits C) increasing interest rates D) decreasing interest rates
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
What is the "division of labor"? How is the division of labor related to production?
What will be an ideal response?