Some of the ways that industrially advanced countries (IACs) can help developing countries (DVCs) in achieving faster economic growth include the following, except:
A. Expanding trade
B. Admitting in more temporary workers
C. Subsidizing their own agricultural sectors
D. Discouraging arms sales
C. Subsidizing their own agricultural sectors
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Which of the following best defines what money is now and what it has been in the past?
A) currency plus credit cards B) anything accepted as a means of payment C) currency D) anything used as a store of value E) currency plus checking deposits
Which of the following is an example of an externality that has been internalized?
A. Acid rain, originating in the United States, destroys Canadian forests. B. Robert Frost breathes the air that has been polluted by the emissions of a nearby steel plant. C. Erica Evans, a beekeeper, decides to keep more bees because her neighbor, an orchard owner, has agreed to compensate her for the bees' pollination of the orchard. D. Miguel Sanchez, a concert pianist, rehearses Beethoven's "Moonlight Sonata" and his neighbors enjoy the "free concert." E. all of the above
Consider the market for new DVDs. If DVD players became cheaper, buyers expected DVD prices to fall next year, used DVDs became more expensive, and DVD production technology improved, then the equilibrium price of a new DVD would
a. rise. b. fall. c. stay the same. d. could rise, fall, or remain unchanged.
Which of the following statements is (are) true of a monopoly? (i) A monopoly has the ability to set the price of its product at whatever level it desires. (ii) A monopoly's total revenue will always increase when it increases the price of its product. (iii) The more a monopoly increases output, the higher the profits
a. (i) only b. (ii) only c. (i) and (ii) only d. (ii) and (iii) only