The world's economies can be divided into four main categories according to their annual per-capita income levels. Which one of the following is NOT one of the categories?
A) low-income
B) upper middle-income
C) high-income
D) lower middle-income
E) middle-income
Question 2
Refer to the production possibility graph above. Assume that the economy is in equilibrium at point e. If the price of good B increases, the new equilibrium is most likely to be
A) point f.
B) point d.
C) point e.
D) point h.
E) point b.
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