Which of the Following Is True Today of the Developed

question 68

Multiple Choice

Which of the following is true today of the developed world?

• A) Developed countries are hard-pressed to maintain their current levels of public assistance.
• B) In the last two years, most developed countries have increased their social safety nets.
• C) In the past, slow economic growth did not permit rich countries to finance generous programs.
• D) In recent years economic growth has increased, whereas the percentage of people needing public assistance has decreased.
• E) None of the above is true.

Identify and calculate opportunity costs in different scenarios.

Describe the concepts of average and marginal costs in production.

Explain the trade-offs faced by individuals and societies.

Define and distinguish between different economic terminologies and their applications.

---

Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.