For the UN Millennium Declaration to Be Successful the World's

question 90

Multiple Choice

For the UN Millennium Declaration to be successful the world's richest countries must agree to do all but one of the following.

• A)Increases foreign aid to 0.7 per cent of GDP
• B)Eliminate subsidies to agriculture
• C)Eliminate tariffs on products imported from the poorest economies
• D)Eliminate foreign aid to make poor countries solve their problem

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Definitions:

Marginal Cost

A measurement of the cost incurred by producing one additional unit of a product or service.

Average Variable Cost

The per-unit cost that varies, calculated through the division of total variable costs by the quantity of products made.

Economic Profits

The financial gain made in a transaction after accounting for both explicit and implicit costs.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the average cost per unit of output.