Which philosophy, advocated by Alexander Hamilton's "Report on Manufactures" as a means to create strong U.S. development, also successfully worked for Germany and Japan?
a. protectionism
b. socialism
c. isolationism
d. capitalism
a. protectionism
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Consider the perfectly competitive firm in the figure above. At the profit maximizing level of output, the firm will
A) make an economic profit equal to the area ABCD. B) incur an economic loss equal to the area ABCD. C) make zero economic profit. D) make an economic profit equal to the area AECD.
Is Europe an optimum currency area?
What will be an ideal response?
In one week, Mohammed can knit 5 sweaters or bake 240 cookies. In one week, Tetah can knit 15 sweaters or bake 480 cookies. Mohammed and Tetah would produce the maximum quantities of cookies and sweaters if
a. Mohammed knitted and baked and Tetah did nothing b. Tetah knitted and baked and Mohammed did nothing c. Mohammed knitted and Tetah baked d. Tetah knitted and Mohammed baked e. Mohammed knitted and baked and Tetah just knitted
Suppose that a curve has a slope equal to zero at some point A. To the right of A, the curve may
a. have a positive slope. b. have a negative slope. c. be a straight line. d. All of the above are correct.