Developing countries have benefited from globalization, because globalization can do all of the following except
A. help spread new and advanced technology and aid in capital accumulation int he developing world
B. impose trad barriers and tariffs on imported goods so as to protect domestic industries
C. open the developing countries' market to foreign trade and thus help create a more robust economy
D. take poor countries out of a low saving-investment trap by providing foreign direct investment and foreign portfolio investment
Answer: B. impose trad barriers and tariffs on imported goods so as to protect domestic industries
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Everything else held constant, an increase in the money market fund ratio will result in ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) no change; a decrease
The rational expectations hypothesis suggests that if wages and prices are flexible,
A) unanticipated monetary policy actions can shift the long-run aggregate supply curve but cannot shift the aggregate demand curve. B) anticipated monetary policy actions can affect nominal variables, but not real variables. C) unanticipated monetary policy actions can affect real variables, but not nominal variables. D) growth in the money supply can alter real variables only if the growth is anticipated.
Human capital contributes to growth because it helps workers in the economy:
A. produce more with the same amount of physical capital. B. work smarter. C. be more productive with their time. D. All of these are true.
Drug-interdiction policies that reduce the supply of illegal drugs may
a. be more effective in the long run than in the short run. b. be best coupled with drug-education programs designed to reduce demand. c. increase drug-related crimes. d. All of the above are correct.