Mercantilism followed feudalism. Unlike feudalism, mercantilism did not support any form of a strong central government or system of nation states
Indicate whether the statement is true or false
False
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Suppose in a country, the working-age population doubles due to immigration. However, the country neglects investment in research and development and hence the country's level of technology is stagnant
Which of the following statements will be true of this economy? A) The economy will experience steady economic growth. B) The savings rate will remain stagnant over the years. C) The economy's output will rise at an increasing rate over time. D) The economy cannot achieve a sustained growth.
Rural-urban migrants differ from the rest of the rural population in that they are more likely to be
(a) well educated (b) poor (c) female (d) all of the above
The phrase "race to the bottom" refers to the situation in which globalization results in countries competing for international investment by imposing low or no environmental regulations or labor standards
a. True b. False Indicate whether the statement is true or false
In the short run, a perfectly competitive firm can make a profit, a loss, or go out of business
a. True b. False Indicate whether the statement is true or false