When economic growth in a large country lowers its willingness to trade, it can result in
A. an improvement in the country's terms of trade.
B. the Dutch Disease.
C. immiserizing growth.
D. a biased growth.
Answer: A
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Output in the short run is determined by which of the following factors when an economy operates at full employment?
A) the labor force B) supply C) the price level D) demand
Using the economic way of thinking, what do a pencil, stick of gum, and balloon have in common?
A) Each is produced by a single person. B) Each is produced by a small number of people. C) Given the state of modern technology and high-speed processing, each can soon be produced without any human intervention at all. D) The production of any one of the goods mentioned above requires the voluntary cooperation of millions of producers and traders.
Which of the following is a service?
a. anything that is scarce and that satisfies unlimited human wants b. a thing for which people pay money c. an intangible activity that satisfies human wants d. any output produced by a service-sector industry, such as fast food e. something less desirable than a good
The acronym NAVPS in the mutual fund table denotes:
a. the percentage change in the asset value of the mutual fund from the close of the previous day's trading. b. the highest and lowest values that the mutual fund has experienced over the last one year. c. the highest asset value at which the fund was sold during the past week. d. the percentage change in the asset value of the mutual fund from the previous week. e. the value of the mutual fund divided by the number of shares of the fund.