What did China create to allow more international trade?
A) Special economic zones
B) Foreign exchange centers
C) More open and transparent government meetings
D) New educational efforts
A
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A fundamental problem in international economics is how to produce
A) a perfect degree of monetary harmony. B) an acceptable degree of harmony among the international trade policies of different countries. C) a world government that can harmonize trade and monetary policies D) a counter-cyclical monetary policy so that all countries will not be adversely affected by a financial crisis in one country. E) a worldwide form of currency.
Creative destruction theory is essentially an argument that profit potential within a noncompetitive industry creates an incentive for new types of competing industry, thereby strengthening the original industry's market power
Indicate whether the statement is true or false
You lend a friend $20,000 for a year. At the end of the year your friend agrees to pay you $21,100. The interest rate on this loan is
A. 4.50% B. 5.00%. C. 5.50%. D. indeterminate from this information.
At a price of $4, quantity supplied is 120, and at a price of $10, quantity supplied is 300. Using the midpoint formula, the price elasticity of supply is ________ and supply is ________.
A. 0.40; inelastic B. 0.1; inelastic C. 1; unit elastic D. 2.5; elastic