International trade
A. Redistributes income from import-competing industries to export industries.
B. Benefits the domestic industries that compete with the imported products.
C. Reduces the level of income for export industries.
D. Causes prices of products to rise because of the transportation costs.
Answer: A
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Which of the following does not describe governmental policy actions that are helpful in supporting growth in an economy? Governmental policies that
A) provide secure rights to private property. B) establish an independent court system that enforces contracts. C) facilitate the development of an efficient financial system. D) avoid playing any role in developing communication systems.
If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for 100 years, then GDP would be ________ % higher after 100 years than it would have been otherwise
A) 1.3 B) 2.0 C) 2.7 D) 3.8
Per capita income is calculated as:
a. national income divided by number of households. b. national income divided by number of people. c. number of households divided by national income. d. number of people divided by national income. e. number of people divided by domestic income.
The higher the concentration ratio, the
a. more control an individual firm has to set prices. b. more competitive the industry. c. less competitive the industry. d. Both a and c are correct.