Related to the Economics in Practice on page 3: According to the Economics in Practice, due to the opportunity cost differential, one would expect ________ children at school when the rains have been plentiful in rural India, and ________ children at school when rural India is suffering from a drought.
A. fewer; more
B. no; all
C. the same number of; the same number of
D. more; fewer
Answer: A
You might also like to view...
Which of the following contributed to the collapse of the Bretton Woods system?
a. chronic U.S. trade surpluses b. fixed exchange rates c. an insufficient gold supply d. West Germany's allowing the dollar to float against the mark e. West Germany's not wanting the dollar to appreciate
A freeze in Florida's orange growing regions will:
A result in a sharp increase in the price of oranges in the short run because demand and supply are highly elastic. B result in a sharp increase in the price of oranges in the short run because demand and supply are highly inelastic. C result in little change in the price of oranges in the short run because supply is infinitely elastic. D result in a sharp decrease in the price of oranges in the short run because demand is highly inelastic and supply is highly elastic.
A tax that is structured so that people pay the same percentage of their income in taxes is called a(n):
A. flat tax. B. regressive tax. C. progressive tax. D. excise tax.
Using Figure 1.6, if an economy has the capacity to produce represented by PP1, then point E represents
A. A change in technology. B. An efficient use of resources. C. A combination of cars and SUVs that is not attainable. D. A constant trade-off between cars and SUVs.