Which of the following statements draws a false conclusion?
a. Life expectancy in an average African country is lower than in an average European country; therefore Europeans can expect to outlive Africans.
b. Nations that currently produce no capital goods, and whose inhabitants are hungry, risk famine with internally funded capital investments.
c. Some African nations have substantially more food and capital investment than others; therefore, their standard of living is higher.
d. Population reduction policies, if effective, can improve the nation's wealth by increasing real per capita GDP.
e. The vicious circle of poverty argument states that poverty precludes capital investment and that no capital investment perpetuates poverty.
c
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Within a system of perfectly flexible exchange rates, an decrease in the United States demand for imports would result in a
a. rise in the exchange rate. b. fall in the exchange rate. c. balance of payments deficit. d. balance of payments surplus.
A . How does our ratio of public debt to GDP compare with other democratic market-economy countries' ratios? b. Does this indicate whether or not our debt ratio is a problem? Explain