item no.5] (Multiple Choice) According to Huntington civilization identity will be increasingly important in the future, and the world will be shaped in large measure by the interactions among seven or eight major civilizations. True False
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[item no.5] (Multiple Choice) According to Huntington civilization identity will be increasingly important in the future, and the world will be shaped in large measure by the interactions among seven or eight major civilizations.
True
False
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- You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The economy you select should be a growing economy or an economy that has experienced growth at some stage in its development. Present the finding of your research under the following headings. THE ROLE OF PRICES An examination of the role that prices play in the economic system you have chosen. (150 - 200 words)Q92 Which of the following statements best describes scarcity? a. Production is efficient, but distribution is inefficient. b. Available resources can never satisfy people's wants. c. Society is not employing all of its available resources in an efficient manner. d. Scarcity afflicts only poor countries. e. Too many frivolous goods and services are produced at the expense of socially desirable goods and services. Clear my choiceWhat are the general philosophies of any two of the following famous economists? Is it possible to get help understanding why they are so significant? John Maynard Keynes, Milton Friedman, Adam Smith, Karl Marx, John Stuart Mills, Friedrich Hayek.
- The term "creative destruction" means: Group of answer choices We should not have moved into our modern life style using cars and buses, and tractors to plough the land, because this has destroyed the better quality life we could have had without cars, buses and tractors. Capitalism is inevitably destructive. Human nature is unavoidably both creative and destructive, and most often we combine the two in our every day life. In order to advance to newer, better, products, we have to discard our old products and move away from less efficient ways of production.Scarcity limits the volume of goods that an economic system can produce but does not limit the production of services. True or falseWhich of the following would be most likely to shift the production possibilities curve to the right? a sudden and substantial expansion of consumer wants an improvement in the literacy level and general level of education a decline in the size of the population and labor force shifting resources from the production of capital goods to the production of consumer goods
- You have been tasked with developing a research report based on an economy of your choice anywhere in the world. The economy you select should be a growing economy or an economy that has experienced growth at some stage in its development. Present the finding of your research under the following headings. ECONOMIC SYSTEM A detailed discussion of the economic system used in your chosen economy (Including the characteristics of the economic system, advantages, disadvantages, and an overall evaluation of the effectiveness of the economic system). (400-600 words)Consider your decision to read this textbook on economics. Identify which of the four core principles of economics (the cost benefit principle, the opportunity cost principle, the marginal principle, or the interdependence principle) is most relevant for the following aspects of that decision. Reading this textbook will help establish a solid foundation for understanding concepts you will learn in more advanced economics courses. Reading this textbook will require time and effort, but doing so will help you improve your grade in this course. The time you will spend reading this textbook could instead be used to study for your chemistry exam. Each extra page that you read and each practice problem that you complete will help you increase your understanding of the material.MULTIPLE CHOICE (identify the one best answer and provide explanations): Consider an economy in which each worker has one machine and one unit of natural resources. Assume these inputs are fixed, and so is the worker’s human capital. But there has been an improvement in technology. We can surely conclude that productivity has increased if: the amount of goods and services produced from each hour of the worker’s time increases. the amount of goods and services produced by the worker increases relative to a worker in another country. if the amount of goods and services produced by the worker in a given year increases. all of the above. none of the above.
- macroeconomics multiple choice question 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of the following is NOT a plausible reason for Country B’s higher GDP-per-capita?(A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth.(C) Country B has lower productivity.(D) Country B has more capital. 29. After lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash?(A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic.(B) Supply decreased due to oil workers being furloughed.(C) Demand increased from factories producing Personal Protective Equipment for essential workers.(D) Demand decreased since fewer people were commuting to work.Question 30 Link and Zelda each have 12 hours a week they can spend making costumes and accessories for their cosplay group. Link has been doing this for years and can make a costume piece in 2 hours and an accessory item in 1 hour. Zelda is still learning and can make a costume piece in 3 hours and an accessory item in 2 hours. The opportunity cost of 1 costume piece for Link in terms of accessory items (i.e. accessory items per costume piece):Select the following economic scenario that would be considered an example of microeconomics. The governor of Montana proposes lowering the tax rate in her state in order to attract more business. A large computer company, worth billions of dollars, launches a new product that could double its profits. Congress passed a trillion-dollar stimulus bill to stimulate the U.S. economy. The president of the United States and the president of China agree to a treaty that will boost trade between the world's two largest economies.