Consider a production possibility frontier with books and tables. A combination of 1000 books and 500 tables is on the frontier. Which of the following are true?
i. Production of 700 books and 400 tables is attainable but inefficient.
ii. Production of 1000 books and 600 tables is unattainable.
iii. Production of 500 books and 1000 tables is inside the frontier.
A) i, ii and iii B) i only C) i and iii D) ii and iii E) i and ii
E
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The Millennium Development Goals indicate that
a. extreme poverty can only be eliminated by introducing democratic norms. b. the alleviation of extreme poverty is a moral responsibility that cannot be ignored. c. foreign direct investment actually ends up increasing global poverty. d. there is little evidence that institutionalized programs reduce global poverty.
In the OECD countries, there is a negative relationship between output per capita in 1950 and
A) growth since 1950. B) output per capita in the 1990s. C) distance from the equator. D) population. E) none of the above