The concept of "economic pessimism" stems from
A) the theory and empirical fact which states that developing nations face declining export prices relative to increasing import prices.
B) the fact that economic growth in an era of globalization is difficult to attain.
C) the fact that smaller countries would not enjoy comparative advantage unless they are allowed to subsidize some of their industries.
D) the fact that it is impossible to achieve desired economic development without adopting full democratic principles.
E) None of the above.
A
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Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Dan should specialize in both sandwiches and smoothies. B. Dan should specialize in smoothies, and Tracy should specialize in sandwiches. C. Dan should specialize in sandwiches, and Tracy should specialize in smoothies. D. Tracy should specialize in sandwiches and smoothies.
Refer to Figure 11.5. A decrease in the marginal propensity to import is best illustrated by diagram
A) A. B) B. C) C. D) D.
A legal claim against a firm that usually entitles the owner of the claim to receive a fixed annual coupon payment, plus a lump-sum payment at some future date, is known as
A) a bond. B) a share of common stock. C) a share of preferred stock. D) a reinvestment coupon.
Which of the following real-world phenomena does the classical model ignore?
a. Frictional unemployment b. Inflation c. Real output growth d. Cyclical unemployment e. Structural unemployment