What has happened to countries that did not participate in the globalization of the world economy?
a. The fraction of the population living below the poverty line in these countries has decreased.
b. These countries have been mired in a low-growth path and are experiencing high poverty rates.
c. The socialist policies in these countries have caused a big change in the income distribution, something that globalization could not have achieved.
d. The growth rate of these countries is stronger than the First World countries.
e. The domestic industries in these countries have experienced robust growth.
b
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Discuss the link between real GDP and imports
What will be an ideal response?
The figure above shows the market for college education in the United States. If the government does not intervene in this market, the number of students going to college is ________ and the efficient number of students is ________
A) 13 million students per year; 16 million students per year B) 14 million students per year; 16 million students per year C) 10 million students per year; 14 million students per year D) 10 million students per year; 13 million students per year E) 14 million students per year; 10 million students per year
Under a pure flexible exchange rate system, the rate that equates demand and supply in the exchange rate market will also lead to a balance of
a. merchandise exports and merchandise imports. b. current account transactions. c. capital account transactions. d. current and capital account transactions.
Evidence of discrimination in labor markets
a. applies only to race and gender. b. is conclusively identified by large differences in average wages rates between men and women. c. is difficult to verify by reference to differences in average wage rates. d. is more easily identified on the basis of race than gender.