ECO 241 Sample Practice Exam 2017

1. Countries tend to be classified as more or less developed based on a. the literacy rate. b. the poverty rate. c. the level of income per capita. d. the types of goods they produce. 2. Which of the following demonstrates international interdependence? a. the oil shocks b. the debt crisis c. global warming d. all of the above. 3. A subsistence economy is a. a very low income economy. b. an economy in which people make what they consume. c. an economy in which people receive food for pay. d. all...