Which of the Following Is a True Statement

question 8

Multiple Choice

Which of the following is a true statement?

• A) Over the last 60 years, the annual growth rate of economic activity in the world has been about 3.5 percent.
• B) Over the last 60 years, the annual growth rate in total global exports has been about 6.2 percent.
• C) Over the last 60 years, international trade has grown about twice as fast as overall economic growth.
• D) All of the above.

Recognize the different dimensions of deviance and crime, including severity of social response and perceived harmfulness.

Identify and differentiate between informal and formal punishments in response to deviance.

Analyze the role of social norms and laws in the definition and enforcement of deviant behavior.

Comprehend the impact of societal agreement or disagreement on the labeling of acts as deviant or criminal.

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Definitions:

Demand Elastic

Refers to the degree to which demand for a good or service varies with its price. High elasticity indicates demand changes significantly with price changes, while low elasticity indicates little to no change.

Mark-Up Percentage

The percentage added to the cost price of goods to cover overhead and profit.

Total Variable Cost

The aggregate of all variable costs that are incurred for a particular level of output or production.

Total Annual Fixed Costs

The sum of all business expenses that are constant and do not change with the level of production within the year.