Use the Following Graph for the Question

question 16

Multiple Choice

Use the following graph for the question.

-On the graph of clean drinking water per person, each letter represents a country. Which of the following is most likely?

• A) A is the United States; B is India.
• B) B is the United States; A is India.
• C) A is the United States; B is Canada.
• D) B is India; A is China.
• E) A is India; B is China

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Definitions:

Classical Economists

Economists from the 18th and 19th centuries who focused on free markets, the role of competition, and the importance of limiting government intervention in the economy.

Say's Law

A principle stating that supply creates its own demand, meaning that production of goods and services creates an equivalent purchasing power in the economy.

Flexible Wages

A wage system where pay rates can vary based on market conditions, performance, or negotiated agreements, as opposed to fixed salaries.

Quantity of Money

The total amount of money in circulation within an economy, including cash, coins, and balances held in checking and savings accounts.