The average income in a rich country
a. is about 5 times that in a poor country. Further, people in rich countries have longer life expectancy.
b. is about 5 times that in a poor country. However, people in rich countries have about the same life expectancy as those in poor countries.
c. is more than ten times that in a poor country. Further, people in rich countries have longer life expectancy.
d. is more than ten times that in poor country. However, people in rich countries have about the same life expectancy as those in poor countries.
c
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The figure above shows the market for annual influenza immunizations the United States. Area A + Area B is the
A) deadweight loss when there is not the illustrated subsidy. B) loss in efficiency from the illustrated subsidy. C) gain in efficiency from the illustrated subsidy. D) remaining deadweight loss when there is the illustrated subsidy. E) equilibrium with the illustrated subsidy.
A nation can produce two products: tanks and autos. The table below is the nation's production possibilities:
Refer to the above table. According to the production possibilities schedule, a combination of 4 tanks and 650 autos is:
A. Attainable, and involves an efficient use of society's resources
B. Attainable, but would not be in the best interests of a strong national defense
C. Less than (or below) the maximum attainable output combination
D. Not attainable because the nation does not have sufficient resources