The Basic Human Needs approach to development emphasizes
a. government money hand-outs to the poor
b. subsidizing large labor-intensive production projects
c. technical schools for high school graduates
d. promoting provision of health, education, shelter and food
e. all of the above
D
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At $10,000 of disposable income, Audrey's consumption expenditure was $11,000. At $20,000 of disposable income, Audrey's consumption expenditure was $19,000. What is Audrey's marginal propensity to consume?
What will be an ideal response?
A farmer has the ability to grow either corn or cotton or some combination of the two. Given no other information, it follows that the farmer's opportunity cost of a bushel of corn multiplied by his opportunity cost of a bushel of cotton
a. is equal to 0. b. is between 0 and 1. c. is equal to 1. d. is greater than 1.