All of the following are true of the high-growth Asian economies EXCEPT
A) macroeconomic stability has been a high priority of their economic policies.
B) strong, credible commitments to sharing economic growth across all layers of society exist.
C) exports have been promoted while at the same time being more open to imports than other developing countries.
D) restrictions on imports of capital goods have helped to favor the development of domestic technology.
D
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Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. Last year, Christine's explicit costs were ________, and her implicit costs were ________.
A. $15,000; $43,000 B. $36,000; $140,000 C. $51,000; $40,000 D. $18,000; $40,000
Net exports is negative if
A) the value of exports exceeds the value of imports. B) the value of imports exceeds the value of exports. C) the tariff payments are included in the value of imported and exported items. D) too much production occurs in the exporting country during the year.
If a firm adds one more worker and total output increases from 100 to 120, the marginal product of labor equals
a. 220. b. 120. c. 100. d. 20.
What caused the major economic conflict between the North and the South immediately before the outbreak of the Civil War?
A. Agricultural development. B. Industrialization in the North. C. Trade barriers with England. D. All of the choices are true.