________ policies involve government support for manufacturing sectors in which a country has potential comparative advantage
A) Comprehensive development
B) Primary-export-led development
C) Import-substitution development
D) Outward-looking development
D
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If short-run aggregate supply is upward sloping, the assumption is that
A) prices are perfectly sticky. B) prices are set by government mandate. C) prices adjust gradually. D) prices are constant.
The formula for the multiplier can be written as change in
a. Y/change in I. b. I/change in Y. c. Y/change in C. d. Y/change in GDP.
Refer to Scenario 9.1 below to answer the question(s) that follow. SCENARIO 9.1: Amy borrowed $20,000 from her parents to open a bagel shop. She pays her parents a 5% yearly return on the money they lent her. Her other yearly fixed costs equal $9,000. Her variable costs equal $30,000. In her first year, Amy sold 40,000 dozen at a price of $1.50 per dozen. Refer to Scenario 9.1. Amy's profit is
A. $0. B. $20,000. C. $30,000. D. $50,000.
Which of the following is an example of a compensating differential?
A. Bill was injured on the job and as a result of his injuries he can no longer work. He now qualifies for $1,000 a month in disability payments. B. It takes the same amount and type of training to be either a prison guard or a parole officer. Prison guards earn about 15% more than parole officers with the same amount of experience. About 3% of prison guards, but only 1% of parole officers, are injured on the job each year. C. A bank hires both men and women who have just graduated from college. The women are assigned positions as bank tellers, and the men are assigned to the management training program. D. A plastic surgeon must train for five more years than an internist and on average plastic surgeons earn 40% more per year than internists.