Poor Asian countries may have per-capita GDP's that may be less than $250 . Why is this somewhat misleading for comparative purposes?
a. Most rich country GDP is nonmarket activity.
b. A significant amount of poor country GDP is nonmarket activity.
c. Poor countries do not use dollars.
d. Poor countries have few resources.
b
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The figure above shows the market for polio vaccination in Pakistan. Polio vaccination confers an external benefit because one person's vaccination makes it less likely that other people will catch polio
a. If the market is competitive and left unregulated, how many doses of vaccine will be administered? b. If the Melinda and Bill Gates Foundation underwrites the cost of the vaccine by paying for a large fraction of the preparation and delivery cost, what will happen to the number of doses administered? Why?
If a firm takes the wage as given, then the supply curve of labor to that firm is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.