The percentage of the world's population that lives in the advanced economies is
A) between 20 percent and 30 percent.
B) between 51 percent and 70 percent.
C) more than 71 percent.
D) between 31 percent and 50 percent.
E) less than 20 percent.
E
Economics
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It is useful to assume that there is a single representative consumer because
A) this is realistic. B) this is a useful abstraction if we are interested in problems where distribution effects are not important. C) this is the only model we know how to work with. D) a model with one consumer is the same as one with many consumers.
Economics
An industry that generates detrimental externalities will have a marginal social cost higher than the marginal private cost to the industry
a. True b. False Indicate whether the statement is true or false
Economics