Which one of these would be considered an LDC?
A. Malawi
B. Taiwan
C. Hong Kong
D. South Korea
A. Malawi
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The field of macroeconomics developed when economists looked for causes of:
A. poverty and inflation. B. World War I. C. the Great Depression. D. the wealth of nations.
Commissions paid to a stock broker are an example of:
A. transaction costs. B. liquidity. C. risk transfer. D. information asymmetry.
Tariffs can be thought of as indirect:
A. subsidies to domestic producers. B. subsidies to foreign producers. C. special taxes on domestic producers. D. subsidies to domestic consumers.
Producer surplus is defined as
A. the value that the consumer places on a good over the amount they pay for it. B. when quantity demanded is greater than quantity supplied. C. the money that the producer gets from a good over the amount they are willing to sell it for. D. when quantity supplied is greater than quantity demanded.